Definitions for "Magi"
A caste of priests, philosophers, and magicians, among the ancient Persians; hence, any holy men or sages of the East.
Plural of Magus. A member of a hereditary priestly class among the ancient Medes and Persians. In the Holy Bible, the Magi, also known as the Wise Men, visited the infant Jesus, giving gifts of gold, frankincense and myrrh.
(New Testament) the sages who visited Jesus and Mary and Joseph shortly after Jesus was born; the Gospel According to Matthew says they were guided by a star and brought gifts of gold and frankincense and myrrh; because there were three gifts it is usually assumed that there were three of them
Modified adjusted gross income. Modified adjusted gross income (MAGI) is a measure of income used to determine how much of a tax-deductible contribution you may make to a regular IRA or nondeductible contribution to a Roth IRA. MAGI is also used to determine how much you can contribute to certain Coverdell education savings accounts, formerly called education IRAs. MAGI is smaller than gross income and may be larger than adjustable gross income (AGI is shown on line 35 of IRS Form 1040.) The IRS says that MAGI and AGI are equal for most taxpayers. To calculate MAGI, add any foreign-earned income and housing exclusions (or income earned in American Samoa or Puerto Rico) to your AGI.
Modified adjusted gross income. This represents adjusted gross income before certain deductions or adjustments are taken. It is used in determining your eligibility to a Roth IRA and Traditional IRA.
Modified Adjusted Gross Income. MAGI for determining eligibility to make a Roth IRA contribution is an individual's AGI from his or her federal income tax return with certain modifications. For most taxpayers, MAGI will be the same as their AGI. MAGI for a Roth IRA is AGI, with the following added back: Income from US Savings Bonds used to pay higher education; foreign earned-income exclusion; foreign housing exclusion or deduction; half of Social Security or tier 1 railroad retirement benefits; passive activity losses and credits limited; employer reimbursed adoption expenses. An individual's MAGI does not affect his ability to make a Traditional IRA contribution. The MAGI of an individual who is an active participant in an employer-sponsored retirement plan may affect his ability to deduct his Traditional IRA contribution.
Keywords:
worshippers, sun
Sun-worshippers