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2. Tax Deductions for Small Businesses - AOL

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   [Read more: 9 Commonly Overlooked Small Business Tax Credits] Business vehicle. Expenses from the use of a company or business vehicle, such as tolls, maintenance fees, licenses, and insurance ...

3. 20 valuable small-business tax deductions - AOL

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   Bankrate insight. A marketing business owner travels across the U.S. to meet clients. In 2023, they traveled 5,000 miles in total. They can deduct $3,275 ($0.655 for 2023 standard mileage rate x ...

4. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

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   Any expenses that are considered extravagant or lavish don’t qualify for the business travel expenses deduction. Self-employed individuals claim these expenses on Schedule C (Form 1040 ...

5. Internal Revenue Code section 162 (a) - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   It concerns deductions for business expenses. It is one of the most important provisions in the Code, because it is the most widely used authority for deductions. [1] If an expense is not deductible, then Congress considers the cost to be a consumption expense. Section 162(a) requires six different elements in order to claim a deduction.

6. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable ...

7. 5 Unexpected Tax Deductions Every Small Business Owner ... - AOL

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   Tax time can be tiring for any individual taxpayer. However, for small business owners trying to cut costs at every turn, the task can be downright overwhelming. See: Why Management Positions ...