Tuesday, June 18, 2013

How does your income rank relative to everyone else in the US. You might be richer than you think.

Adjusted Gross Income (AGI) is the amount of your income (or combined household income) that is subject to Federal Income taxes AFTER you take all the tax deductions and/or credits your are entitled to.

Where do you (or your household) fall?

Look at the yellow highlighted row of numbers (for the latest year data is available--2010)

If you are a "1 Percenter" then your AGI is $369,691 or higher. You are in the top 6% of income earners if your AGI is $161,579 or higher (includes the 1%-ers too).

You are in the Top 10% of income earners if you AGI is $116,623 or higher (includes everyone above that too).

Are you surprised the threshold is so low?  You may be richer than you think!! :)

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