What's adjusted gross income, also known as AGI? Here's what to know about this important income tax calculation.

More Justin Sullivan/Getty There are a number of online tools to calculate your adjusted gross income, but a person can also do it with basic math, although there is room for errors to be made.

To calculate gross wages for hourly workers, multiply the hourly wage by the number of hours worked. If they worked overtime, that pay is calculated at a higher rate.

The CommercialRealEstate.loans website recommends you calculate effective gross income as potential rental income plus other income, minus vacancies, credit losses and losses to lease.

You add that all up, subtract it from your gross income and that’s how you come to your adjusted gross income figure. If you’ve filed a tax return, the numbers are right there.

Net pay is different from gross pay. Both can be seen on your paycheck, but what do they each mean? Here's what you need to know.

Find your take home pay in South Dakota using Forbes Advisor`s Paycheck Calculator.