In this scenario, even though you’re in the 32% bracket, you would actually pay only about 20.8% of your taxable income in taxes ($41,687/$200,000). Taxable income typically includes wages (including ...

Taylor Tepper covered banking, investing and pretty much everything else in personal finance for more than a decade, with his work appearing in the New York Times, Fortune and MONEY magazine, as well ...

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, ...