What are Taxes?

What are taxes? Taxes are funds that companies and individuals must pay to the government for the purpose of funding government operations.  Taxes are mandatory and cannot be avoided. A tax system is common in most countries. It allows for the payment for national, and  public needs as well as for government functions. Revenues from … Continue reading What are Taxes?

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Federal Income Tax Adjustments and Deductions – Adjusted Gross Income (AGI)

If you have filed taxes before, you should already know that the higher your Adjusted Gross Income, or AGI, the more taxes you are likely to pay. Your Adjusted Gross Income will also determine your eligibility for many of the credits you might qualify for. But what determines the Adjusted Gross Income? Your Adjusted Gross … Continue reading Federal Income Tax Adjustments and Deductions – Adjusted Gross Income (AGI)

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