Your modified adjusted gross income or MAGI is used to determine your eligibility on a number of things. This includes several credits and deductions, Medicare Plan B premiums, and is most known for determining IRA deduction and Roth IRA contribution eligibility.
So, it’s a pretty important number to have handy. There’s just one problem. It’s not the easiest number to figure out.
What is MAGI?
Modified Adjusted Gross Income is your adjusted gross income (AGI) plus a few specific deductions. Since the number is entirely dependent on those deductions, it can change from year to year.
In order to find your modified adjusted gross income, you first need to find your adjusted gross income.
Find Your AGI
Your adjusted gross income is your total or gross income minus certain deductions, known as adjustments. Whether you know it or not, you figure this number out each year when you do your taxes. You can find it on: Continue Reading…
There has been a flurry of special dividend announcements recently. Many from companies that don’t normally pay a dividend. Which shouldn’t be surprising really. Which leaves shareholders with a nice end of the year dividend payment. Of course, even special dividends are taxed. But how is it viewed for tax purposed?
There are many ways to invest in foreign companies. International funds are the most common. But what about individual stocks? An ADR is an easy way to buy foreign stocks through your broker.
One of the hard parts of investing is knowing when to sell once you have a profit. Another is selling too early and missing out on more profit. And, of course, through all that, you still want to protect your profit so it doesn’t become a loss. Which all sounds complicated, but a trailing stop order covers all of this and more.