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2. Know the 2024 standard mileage rate before you do your taxes

   www.aol.com/know-2024-standard-mileage-rate...

   The change in the tax rule is part of the Tax Cuts and Jobs Act of 2017. However, a self-employed taxpayer who files a Schedule C can use the standard rate to deduct expenses from mileage incurred ...

3. 15 Self-Employment Tax Deductions You Should Know - AOL

   www.aol.com/15-self-employment-tax-deductions...

   Here’s the top 15 self-employment tax deductions that you might qualify for: Common Tax Deductions. Here are a few of the most common self-employment tax deductions: 1. Self-Employment Tax Deduction

4. Mileage Tax Deduction: Understand the Reimbursement Rules - AOL

   www.aol.com/write-off-mileage-irs-expands...

   Starting Jan. 1, 2024 the mileage tax deduction will now be 67 cents per mile driven — up 1.5 cents from 2023. Find out if you qualify for this deduction.

5. Mileage Reimbursement Rate for 2025: What To Expect - AOL

   www.aol.com/finance/mileage-reimbursement-rate...

   Complete the appropriate tax forms: Self-employed individuals or business owners must fill out Schedule C, Part II, Line 9. Employees will need to complete Form 2106. Employees will need to ...

6. Business mileage reimbursement rate - Wikipedia

   en.wikipedia.org/wiki/Business_mileage...

   The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...

7. IRS mileage rate for business goes up to 70 cents a ... - AOL

   www.aol.com/irs-mileage-rate-business-goes...

   Self-employed individuals can claim business mileage on a tax return. Those filing 2024 returns in 2025, need to keep in mind that they will use the 2024 rate for those returns, not the new IRS ...

8. 15 Self-Employment Tax Deductions You Should Know - AOL

   www.aol.com/15-self-employment-tax-deductions...

   Here are a few of the most common self-employment tax deductions: 1. Self-Employment Tax Deduction. If you’re self-employed, you will end up paying more Social Security and Medicare tax than an ...

9. Solo 401 (k) - Wikipedia

   en.wikipedia.org/wiki/Solo_401(k)

   In order to qualify for a Solo 401(k), an individual must claim some self-employed income. However, he/she does not need to work full-time in a self-employed capacity. A common example of part-time self-employed income is an individual who works for an employer, but also does a little consulting on the side.