Adjusted gross income is an important number used to determine how much you owe in taxes. It's a factor in determining your federal tax bracket and taxable income -- the portion of your income ...

Modified adjusted gross income, or MAGI, is a crucial tax term to know if you want to qualify for valuable tax benefits.

Investment Income Any gains you make from investments count as taxable income. However, this income might be offset by tax deductions or tax write-offs.