A social security number (SSN) is a nine-digit number issued by the Social Security Administration to every United States citizen, plus permanent residents and temporary working residents. Its main purpose is to track individuals for taxes, but it’s also used as an official national identification number.
Posts Tagged ‘tax’
Adjusted Gross Income is…
Thursday, July 30th, 2009Adjusted gross income (or AGI) is your gross income minus any tax deductions (like work expenses and charitable donations) or any adjustments. For example, if you make $100 but spend $2 on a stapler for work and give $5 to charity, your AGI is $93. This is the income that the IRS generally looks at when they determine your taxes.