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  2. Tax Deductions for Small Businesses - AOL

    www.aol.com/finance/tax-deductions-small...

    If the business is a limited liability company, a sole proprietorship, or a partnership, these charitable contributions must be claimed on personal income tax forms — personal charitable ...

  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. 15 Self-Employment Tax Deductions You Should Know - AOL

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    There are dozens of self-employment tax deductions, including advertising, retirement contributions, health insurance, self-employment tax deduction, travel expenses, business insurance, car ...

  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 Credits Small Businesses Don't Know They Qualify For - AOL

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    For many small business owners, navigating the ins and outs of taxes can seem insurmountable. Because of this, few business owners are aware of the full range of tax credits and deductions of ...

  7. IRS tax forms - Wikipedia

    en.wikipedia.org/wiki/IRS_tax_forms

    As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for such returns.

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