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

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

    The IRS bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023. ... rate will be 21 cents per mile driven for medical or moving purposes for ...

  3. 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 ...

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

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

    The standard mileage rate is 67 cents per mile for business purposes, 21 cents per mile for medical or moving purposes and 14 cents per mile for charitable purposes. These rates apply to gas ...

  5. IRS mileage rate for business goes up to 70 cents a ... - AOL

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

    The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 cents for the optional mileage rate for automobiles driven for business ...

  6. Taxation in the United States - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_United_States

    State and local taxes are generally deductible in computing federal taxable income for taxpayers who itemize their deductions; however, the Tax Cuts and Jobs Act of 2017 limited the maximum amount of the deduction to $10,000 for individuals and married couples from 2018 through 2025.

  7. Tipped wage - Wikipedia

    en.wikipedia.org/wiki/Tipped_wage

    The United States federal government requires a wage of at least $2.13 per hour be paid to employees who receive at least $30 per month in tips. [4] If wages and tips do not equal the federal minimum wage of $7.25 per hour during any week, the employer is required to increase cash wages to compensate.

  8. Employee compensation in the United States - Wikipedia

    en.wikipedia.org/wiki/Employee_compensation_in...

    So, for example, if a company declared a 25% profit sharing contribution, any employee making less than $230,000 could deposit the entire amount of their profit sharing check (up to $57,500, 25% of $230,000) in their ERISA-qualifying account. For the company CEO making $1,000,000/year, $57,500 would be less than 1/4 of his $250,000 profit ...

  9. What You Can Rent on a Minimum-Wage Salary in Every State - AOL

    www.aol.com/rent-minimum-wage-salary-every...

    In 1938, President Franklin D. Roosevelt signed the Fair Labor Standards Act into law, which introduced the minimum wage at 25 cents per hour. It has increased some since then, but not much. While...

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