However, if more than 75% of your adjusted gross income (AGI) is from farming, then you qualify for an extra $125,000 payment. Speciality crop farmers would qualify for up to $900,000 per producer.

Modified adjusted gross income, or MAGI, might sound like just more tax jargon, but knowing how to calculate your MAGI is key to determining your eligibility for several valuable tax benefits ...

President Donald Trump ’s ‘big beautiful bill’ delivers a temporary higher limit on the federal deduction for state and local ...

Knowing your taxable income helps you make smarter choices about deductions, retirement contributions and how much tax to withhold. It can also prevent surprises at tax time. If your finances are more ...

The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and overtime pay, and addresses other tax priorities of the Trump administration.