As the tax filing deadline approaches, many investors find themselves revisiting financial terms that tend to surface only once a year. Concepts like adjusted gross income, modified adjusted gross income, and taxable income often sound interchangeable, but they serve very different roles in how your tax liability is calculated and how effective tax planning is structured.

Understanding how these income measures work is an important step in making more informed financial decisions. Each one plays a distinct role in determining how much of your income is subject to tax, which deductions may apply, and whether certain thresholds or surcharges may affect you.

In this episode, Cullen breaks down:

• What Adjusted Gross Income (AGI) is and how it serves as the starting point for your tax return

• Which income sou ...