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  2. 13 Tax Deductions You Can Take Without Itemizing - AOL

    www.aol.com/13-tax-deductions-without-itemizing...

    For tax year 2023, the IRS allows a deduction of $300 for buying supplies such as books, computer equipment, software licenses, and other teaching materials. The deduction is $600 for joint filers ...

  3. 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 ...

  4. 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.

  5. Corporate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax_in_the...

    Corporate income tax is based on net taxable income as defined under federal or state law. Generally, taxable income for a corporation is gross income (business and possibly non-business receipts less cost of goods sold) less allowable tax deductions. Certain income, and some corporations, are subject to a tax exemption. Also, tax deductions ...

  6. Taxes 2023: Here are the biggest tax changes this year - AOL

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    In 2020 the CARES Act allowed single filers and married couples filing jointly to deduct up to $300 in charitable donations without having to itemize their return. Married filing separately ...

  7. Educator Expense Deduction Increased to Maximum of $300 ... - AOL

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    Need help? Call us! 800-290-4726 Login / Join. Mail

  8. Income tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_the_United...

    The cost of goods sold in a business is a direct reduction of gross income. Business deductions: Taxable income of all taxpayers is reduced by deductions for expenses related to their business. These include salaries, rent, and other business expenses paid or accrued, as well as allowances for depreciation.

  9. Is a $300 Side Gig Worth It? 5 Ways To Earn More Than That ...

    www.aol.com/finance/300-side-gig-worth-5...

    If you’re looking for a way to generate income without working long hours, consider renting out extra space in your home. According to Airbnb, the average host on their site makes around $13,800 ...

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