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2. Grant Cardone believes 'there's only 1 car' in the US that ...

   www.aol.com/finance/grant-cardone-believes-there...

   Section 179 of IRS says anything over 6,000 pounds, you can write off 100%. ... pounds but not more than 14,000 pounds. For tax years beginning in 2024, the maximum Section 179 deduction for such ...

3. Section 179 depreciation deduction - Wikipedia

   en.wikipedia.org/wiki/Section_179_depreciation...

   Under section 179(b)(1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount exceeding the $2,500,000 threshold, again as of ...

4. Taxes 2024: IRS Increases Mileage Standard Deduction ... - AOL

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   The IRS reduced the standard deduction for miles driven for medical purposes or for moving (applicable only to qualified active-duty members of the Armed Forces) from 22 cents per mile in 2023 to ...

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

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

   IRS Standard Mileage Rates for 2024. In December 2023, the IRS announced the standard mileage rates for 2024. While business rates have increased, other rates have either decreased or remained ...

6. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).

7. 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 ...