Wednesday, October 2, 2013

10/2/2013

AGI calculation

The AGI calculation is relatively straightforward. It is equal to the total income you report that’s subject to income tax—such as earnings from your job, self-employment, alimony income and interest from a bank account—minus specific deductions, or “adjustments” that you’re eligible to take. Your AGI is calculated before you take exemptions and the standard or itemized deduction—which you report in later sections of the return.

Obamacare Taxes - http://useconomy.about.com/od/healthcarereform/a/Obamacare-Taxes.htm

Individual: Anyone not buying “qualifying” health insurance as defined by Obama-appointed HHS bureaucrats must pay an income surtax according to the higher of the following




























 1 Adult2 Adults3+ Adults
20141% AGI/$951% AGI/$1901% AGI/$285
20152% AGI/$3252% AGI/$6502% AGI/$975
2016 +2.5% AGI/$6952.5% AGI/$13902.5% AGI/$2085

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