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2. 20 valuable small-business tax deductions - AOL

   www.aol.com/finance/20-valuable-small-business...

   Bankrate insight. A marketing business owner travels across the U.S. to meet clients. In 2023, they traveled 5,000 miles in total. They can deduct $3,275 ($0.655 for 2023 standard mileage rate x ...

3. Tax Season 2024: 5 Changes That Small Business Owners ... - AOL

   www.aol.com/tax-season-2024-5-changes-150025033.html

   Starting with tax year 2023, “the small employer pension startup credit is increasing from 50% of administrative costs to 100% for the first three years for those employers with up to 50 ...

4. Rollovers as business startups (ROBS): What they are and how ...

   www.aol.com/finance/rollovers-business-startups...

   ROBS is a tax-free way to fund a startup or existing business without taking on new debt. No credit requirements for approval . ROBS could be a funding option for those with bad credit .

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. Qualified Small Business Stock - Wikipedia

   en.wikipedia.org/wiki/Qualified_Small_Business_Stock

   Qualified Small Business Stock (QSBS) is a tax incentive to drive the investment and founding of small businesses in the United States of America. [1] The QSBS regulations are under U.S. Code Section 1202 [2] of the Internal Revenue Code (IRC). QSBS is a tax exemption on a federal, and in some cases, a state level. [3]

7. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   Medical expenses, only to the extent that the expenses exceed 7.5% (as of the 2018 tax year, when this was reduced from 10%) of the taxpayer's adjusted gross income. [2] (For example, a taxpayer with an adjusted gross income of $20,000 and medical expenses of $5,000 would be eligible to deduct $3,500 of their medical expenses ($20,000 X 7.5% ...