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For the final six months of 2022, the standard mileage rate for business travel was 62.5 cents per mile, up 4 cents from the rate effective at the start of 2022.
The IRS has given at least one tiny glimmer of hope for your 2023 finances amid a backdrop of economic uncertainty: You can now increase your tax write-off for fuel costs. On Dec. 29, the agency ...
2023 Mileage Reimbursement Rate. In December 2022, the IRS announced the standard mileage rates for 2023. Although rates for business miles increased, rates for other qualified miles remain ...
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.
On May 21, 2022, Shanghai Municipal People's Government released and issued the "Shanghai Action Plan for Accelerating Economic Recovery and Revitalization" to promote automobile consumption. The incentive plan includes tax deduction and offers financial subsidy of RMB 10,000 per electrical vehicle.
Qualified Performing Artist Deduction. Under United States tax law, certain performing artists are eligible to deduct the expenses incurred in the course of their employment as performing artists ("performing artist expenses"). The deduction itself is provided by IRC § 62 (a) (2) (B), [1] while qualifications of a Qualified Performing Artist ...
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