Examlex
What are some of the common difficulties faced by college students, and how might this impact them?
MACRS
The Modified Accelerated Cost Recovery System, a method of depreciation in the U.S. for tax purposes, allowing businesses to recover investments in certain property over time.
Standard Mileage Rate
The Standard Mileage Rate is a set amount per mile provided by the IRS that taxpayers can use to calculate deductible vehicle expenses for business, charitable, medical, or moving purposes.
Parking Fees
Charges incurred for the use of a parking space, which may be deductible in certain tax situations if related to business activities.
Property Taxes
Taxes levied by local governments on the value of real estate owned, which fund services like schools, fire departments, and local infrastructure.
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