When you fill out forms for your state taxes, it is important to understand the difference between your net income and adjusted gross income. Here's how.

Seniors, students, taxpayers, children, parents, low-income Americans and just about everyone else will be affected by the ...

Your after-tax income would be $7,500 - ($7500 x 0.25), or $7,500 - $1,875, which is $5,250 in after-tax income. Related investing topics 8 Best Strategies for Retirement Income ...

The final version of the bill will allow workers to deduct up to $25,000 in tips and up to $12,500 ($25,000 in the case of a ...

Net income is the last line item on an income statement and accounts for all costs and expenses, including taxes. Profit before tax will always be higher than net income, as it doesn’t deduct taxes.

Remember, AGI is income after expenses. Most farms now have a fair number of farm equipment trades, and they usually show net gains on Form 4797 and a net loss on Schedule F.

When you fill out forms for your state taxes, it is important to understand the difference between your net income and adjusted gross income. Here's how.