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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 2024 mileage rate for the use of your vehicle to do volunteer work for certain charitable organizations is 14 cents per mile. To claim that deduction, you must itemize your deductions, and not ...

3. 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.

4. IRS mileage rate for business goes up by 1.5 cents for 2024 - AOL

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

   Self-employed individuals can claim business mileage on a tax return. Those filing 2023 returns in 2024, though, need to use the 2023 rate for those returns, not the new IRS mileage rate for 2024.

5. 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 ...

6. Employer transportation benefits in the United States

   en.wikipedia.org/wiki/Employer_transportation...

   An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.

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

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

   Section 162(a) of the Internal Revenue Code (26 U.S.C. § 162(a)), is part of United States taxation law.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]

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

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

   There are several ways to deduct vehicle expenses on your business tax return as a self-employed person. ... you can deduct up to $1,220,000 in 2024, but it is reduced for equipment purchased for ...

9. Rate schedule (federal income tax) - Wikipedia

   en.wikipedia.org/wiki/Rate_schedule_(federal...

   The origin of the current rate schedules is the Internal Revenue Code of 1986 (IRC), [2] [3] which is separately published as Title 26 of the United States Code. [4] With that law, the U.S. Congress created four types of rate tables, all of which are based on a taxpayer's filing status (e.g., "married individuals filing joint returns," "heads of households").