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2. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   t. e. Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount ...

3. You Can Get Back $3,200 on Your Taxes for These Home Projects

   www.aol.com/back-3-200-taxes-home-110000805.html

   According to IRS Publication 523, to qualify as an improvement, the task must add value to your home, adapt it to new uses, or prolong its life. If repair-type work is part of the overall ...

4. Housing Market 2023: How To Avoid Paying Taxes When Selling ...

   www.aol.com/avoid-paying-taxes-sell-house...

   Refer to IRS Publication 523 to learn more. Even if you can’t avoid taxes altogether, you can reduce them by deducting the cost of capital improvements. To qualify, the capital improvement must ...

5. Capital gains tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Capital_gains_tax_in_the...

   20%***. * This rate was reduced one-half percentage point for 2001 and one-half percentage point for 2002 and beyond. ** There was a two percentage point reduction for capital gains from certain assets held for more than five years, resulting in 8% and 18% rates. *** The gain may also be subject to the 3.8% Medicare tax.

6. Section 179 depreciation deduction - Wikipedia

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

   First, there is a dollar limitation. Under section 179 (b) (1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount ...

7. Can I Lower My Roth IRA & Estate Taxes? - AOL

   www.aol.com/avoid-capital-gains-tax-real...

   (See IRS Publication 523 for a complete description of the exclusion test requirements.) Members of the U.S. military, foreign service, Peace Corps and active intelligence can calculate their ...

8. SEP-IRA - Wikipedia

   en.wikipedia.org/wiki/SEP-IRA

   SEP-IRA. A Simplified Employee Pension Individual Retirement Arrangement ( SEP IRA) is a variation of the Individual Retirement Account used in the United States. SEP IRAs are adopted by business owners to provide retirement benefits for themselves and their employees. [1] There are no significant administration costs for a self-employed person ...

9. Tax Tips: Do I pay taxes when I sell my house? - AOL

   www.aol.com/news/2008-02-20-tax-tips-do-i-pay...

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