Tag Archives: agi

Do you need to bunch your medical deductions?

Bunching deductions means timing the payments between years to get the best tax deduction. Since 2016 is the last tax year that taxpayers age 65 or older can use the 7.5% of adjusted gross income (AGI) deduction floor, you may … Continue reading

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Plan for the return of some tax break phase-outs

Are you familiar with PEP and Pease? Though they sound like a pop duo, the terms refer to tax rules known as phase-outs that can impact how much federal income tax you owe. Phase-outs are reductions in the amount of … Continue reading

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Summertime tax tip

If you lost the benefit of a tax credit or other tax break on your 2012 tax return, start now to review how your 2013 income could affect tax credits this year. If your adjusted gross income (AGI) is too … Continue reading

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