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  2. Internal Revenue Code section 132(a) - Wikipedia

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

    Internal Revenue Code Section 132(a) provides eight types of fringe benefits that are excluded from gross income.These include fringe benefits which qualify as a (1) no-additional-cost service, (2) qualified employee discount, (3) working condition fringe, (4) de minimis fringe, (5) qualified transportation fringe, (6) qualified moving expense reimbursement, (7) qualified retirement planning ...

  3. Flexible spending account - Wikipedia

    en.wikipedia.org/wiki/Flexible_spending_account

    Section 134 of the Revenue Act of 1978 gave tax-favorable treatment to flexible spending accounts for medical expenses. [38] [39] In 1984, the Internal Revenue Service issued a ruling that, while flexible spending accounts were allowable, employees must elect a certain amount for the plan each year and that any unused amounts would be forfeited ...

  4. Employer transportation benefits in the United States - Wikipedia

    en.wikipedia.org/wiki/Employer_transportation...

    Tax-free commuter benefits, also known as qualified transportation fringes, are employer provided voluntary benefit programs that allow employees to reduce their monthly commuting expenses for transit, vanpooling, bicycling, and work-related parking costs. The benefit is a federal tax benefit authorized under the Internal Revenue Code Section ...

  5. Mileage Reimbursement Rate for 2023: What To Expect - AOL

    www.aol.com/mileage-reimbursement-rate-2023...

    Although rates for business miles increased, rates for other qualified miles remain unchanged from the the second half of 2022. Here are the 2023 mileage reimbursement rates: Business use: 65.5 ...

  6. Educator Expense Deduction Increased to Maximum of $300 for 2022

    www.aol.com/finance/educator-expense-deduction...

    The IRS allows teachers to claim the educator expenses deduction if they've paid for classroom supplies or other materials out of their own pockets during the tax year. Starting this year ...

  7. Taxes 2022: How Small Businesses Can Deduct Home Office Expenses

    www.aol.com/taxes-2022-small-businesses-deduct...

    Multiply this percentage by the sum of your home’s total allowable expenses. Using the simplified method, multiply your office’s total square footage by $5. The maximum size for this option is ...

  8. 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 ...

  9. Internal Revenue Code section 409A - Wikipedia

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

    t. e. Section 409A of the United States Internal Revenue Code regulates nonqualified deferred compensation paid by a "service recipient" to a "service provider" by generally imposing a 20% excise tax when certain design or operational rules contained in the section are violated. Service recipients are generally employers, but those who hire ...

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