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2. 15 Self-Employment Tax Deductions You Should Know - AOL

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

   This deduction includes up to $23,000 as an employee, and up to 25% of net earnings (up to $45,000) for a total of $69,000 in deductions. This can massively lower your tax burden and save ...

3. Advisors Should Understand These 2023 Tax Changes Now - AOL

   www.aol.com/finance/advisors-understand-2023-tax...

   The limits on QBI deductions will increase significantly in 2023 to $182,100 for individuals (up from $170,050) and $364,200 for married couples (up from $340,100).

4. The Qualified Business Income (QBI) Deduction - AOL

   www.aol.com/news/qualified-business-income-qbi...

   The 2017 Tax Cuts and Jobs Act introduced a deduction for qualified businss income (QBI) that provides a significant tax break to many business owners. The newly created Section 199A of the ...

5. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   Above and below the line refers to items above or below adjusted gross income, which is item 37 on the tax year 2017 1040 tax form. [2] Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year ...

6. 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.

7. Adjusted gross income - Wikipedia

   en.wikipedia.org/wiki/Adjusted_gross_income

   Adjusted gross income is gross income less deductions from a business or rental activity and 21 other specific items. Several deductions (e.g. medical expenses and miscellaneous itemized deductions) are limited based on a percentage of AGI. Certain phase outs, including those of lower tax rates and itemized deductions, are based on levels of AGI.