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2. Is Rent Tax Deductible? - AOL

   www.aol.com/rent-tax-deductible-184415469.html

   In general, taxpayers cannot deduct rent from their federal income taxes. However, some states offer a renter’s tax credit, and there are additional tax benefits available to renters under ...

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

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

   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] If an expense is not deductible, then Congress considers the cost to be a consumption expense. Section 162(a) requires six different elements in order to claim a deduction.

4. I’m a Landlord: How I Pay Zero Income Tax on My Rental Properties

   www.aol.com/m-landlord-pay-zero-income-190038966...

   Claiming depreciation and deductions. ... Further, keeping an accurate record of your rental property income and expenses is important, especially when it comes time to file your taxes. A Schedule ...

5. 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.

6. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   A taxpayer can only deduct the amount of miscellaneous itemized deductions that exceed 2% of their adjusted gross income. [6] For example, if a taxpayer has adjusted gross income of $50,000 with $4,000 in miscellaneous itemized deductions, the taxpayer can only deduct $3,000, since the first $1,000 is below the 2% floor.

7. 35 essential business expense categories for businesses of ...

   www.aol.com/35-essential-business-expense...

   But to deduct the expense as a business meal come tax time, it's key to know if the employee ate alone, with a team, or with a client, and what was discussed. 35 Business Expense Categories to Know

8. Section 179 depreciation deduction - Wikipedia

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

   Section 179 of the United States Internal Revenue Code (26 U.S.C. § 179), allows a taxpayer to elect to deduct the cost of certain types of property on their income taxes as an expense, rather than requiring the cost of the property to be capitalized and depreciated.

9. Taxes: What you can actually deduct after working from home ...

   www.aol.com/finance/taxes-actually-deduct...

   Qualified educators can deduct up to $250 of unreimbursed business expenses. If both spouses are eligible and file a joint return, they can deduct up to $500 — but not more than $250 each.