6 million individual income tax returns filed for tax year 2014 and provides estimates on sources of income, adjusted gross income
, exemptions, deductions, taxable income, income tax, modified income tax, tax credits, self-employment tax and tax payments.
To receive the maximum credit amount, an individual filer must have modified adjusted gross income
of less than $80,000, or $160,000 for joint filers.
After deductions, their adjusted gross income
was 608,611 dollars in 2012 and 789,674 dollars in 2011.
Actually, you can't really do anything, as an individual, to lower your adjusted gross income
The Senate measure would set the maximum at a combined average adjusted gross income
of $750,000 while the House version would put the maximum AGI at $950,000.
income tax as a percentage of either adjusted gross income
or expanded income.
Adjusted gross income
(AGI) consists of the taxable income prior to exemptions and the standard or itemized deductions that are reported by individuals on their federal income tax return.
Also, the maximum yearly contribution is subject to a pro rata phase-out for taxpayers filing jointly with modified adjusted gross incomes
between $167,000 and $177,000 (for single taxpayers with modified adjusted gross incomes
between $105,000 and $120,000).
most private foundations) is limited to the lesser of (a) 30% of the taxpayer's adjusted gross income
, or (b) 50% of adjusted gross income
minus the amount of charitable contributions allowed for contributions to the 50%-type charities.
A benefit of this election is that a homebuyer in 2009 will know his 2008 modified adjusted gross income
with certainty, thereby helping the buyer know whether the income limit will reduce his credit amount.
To use the tax estimator, you'll need the actual or estimated adjusted gross income
from your 2006 federal return; Oregon taxable income from your 2006 Oregon tax return; filing status; and the amount of pension income that you collect.
The ability to contribute to these accounts phases out for joint fliers with adjusted gross income
(AGI) between $190,000 and $220,000, and single fliers with AGI between $95,000 and $110,000.