Submitted By: Dennis
Answered: September 17, 2013 8:30 am

What is the maximum AGI level subject to the 25% tax rate?

Tax rates are applied to taxable income, not to adjusted gross income (AGI). Taxable income is arrived at by subtracting your personal exemptions and the standard deduction or itemized deductions from AGI. The taxable income limits for the 25% tax rate depend on your filing status.

Tags: AGI
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Tax Glossary

Depreciation

Writing off the cost of depreciable property over a period of years, usually its class life or recovery period specified in the tax law.

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