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2. 20 valuable small-business tax deductions - AOL

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

   For 2023 taxes, you can deduct 65.5 cents per mile. For 2024 taxes, you can deduct 67 cents per mile. If you have only one vehicle and use it for both personal and business needs, you need to ...

3. 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 ...

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

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

   United States portal. v. t. e. Section 162 (a) of the Internal Revenue Code ( 26 U.S.C. § 162 (a)), is part of United States taxation law. 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 ...

5. Limited liability company - Wikipedia

   en.wikipedia.org/wiki/Limited_liability_company

   The default tax status for LLCs with multiple members is as a partnership, which is required to report income and loss on IRS Form 1065. Under partnership tax treatment, each member of the LLC, as is the case for all partners of a partnership, annually receives a Form K-1 reporting the member's distributive share of the LLC's income or loss ...

6. How freelancers can prepare for changing tax requirements - AOL

   www.aol.com/news/freelancers-prepare-changing...

   For the current tax year, freelancers and small business owners still only need to use 1099-K forms to report third-party app payments totaling $20,000, and any number of payments above 200. But ...

7. What documents are required to apply for an LLC loan? - AOL

   www.aol.com/finance/documents-required-apply-llc...

   Common documents to include with a business loan request are your business plan, financial statements, tax returns, personal financial information and collateral details. An LLC can get a business ...