Related Guide: Important Numbers
A client’s adjusted gross income (AGI) and modified adjusted gross income (MAGI) are important tax concepts to be aware of when implementing tax planning strategies. However, there are several factors that affect one’s AGI/MAGI, and it can be challenging to keep track of them all. That’s where you step in.
With this guide, you will have the tools to make a quick assessment of your client’s AGI/MAGI when developing your tax planning recommendations. This summary covers the key factors to be aware of when reviewing one’s AGI/MAGI, such as: