|
||||
|
What’s the difference between Deductions FOR AGI and Deductions FROM AGI? I remember sitting in my tax class and hearing this question all the time. Here’s my best attempt at an explanation: First off – your Adjusted Gross Income (AGI) is the most important number in determining your taxes. Did you have tuition expenses you were hoping to get back from Uncle Sam? Did you hire a nanny to babysit your kids and want to get some of that money back through the Child-Care tax credit? A lower AGI means a better chance of being able to answer yes to these and other questions that will lower your taxes. |
||||
|
|
||||
