Tips on differentiating your income - Gross profit

Gross profit - Do you know what is it
Gross income includes everything you've earned as an income from different kind of sources including: salary, investment income - dividend income + interest income, prizes/awards you won and even the value of bartered goods or services you received.
Gross income also  includes wages, income from certain retirement accounts, capital gains, royalty income, farm income,

  • Pensions.
  • Interest.
  • Dividends.
  • Fees / commissions.
  • Gross income derived from business.
  • Gains derived from dealings in property.
  • rental income
  • Alimony and separate maintenance payments received.
  • Annuities.
  • Income from life insurance and endowment contracts.
  • Income from discharge of indebtedness.
  • unemployment compensation.

Tax Rebate - AGI:
Reducing the gross income by filing the correct tax form - 1040/1040A - U.S. Individual Income Tax Return.
You can even try to fill the 1040A form online here.

Try IRS 2008 1040A form instructions.

AGI is the last number on the first page of the Form 1040, the standard U.S. income tax return form for individuals.

Form 1040A Income Tax Calculator

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