Oh man, I just got my taxes done and I was not happy about the results. Of course after I got them done I ran across this article about a ton of overlooked tax deductions. Looking forward to saving some money on taxes next year.
Among my favs were:
- Hearing aids, eyeglasses, contact lenses
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Education expenses to maintain or improve job skills
- Job-related professional journals and newspapers
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Employment agency fees or commissions
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Home office expenses (if you work from home)
- Moving expenses
- Donated clothing or other goods; note the estimated value (see “Valuation Guide” at goodwillpromo.org) on the receipt
- Student loan interest
- Accounting or legal fees involved with taxes (oh word?)
- Jury duty pay reimbursed to employer
Check out the entire article here.
Hey, if you haven’t done your taxes yet and want some face time at an IRS Taxpayer Assistance Center and get answers to any last minute questions, today (March 21st) is your lucky day. Click here to find out where your nearest IRS Taxpayer Assistance Center is and get some help with your taxes.
peace,
e.
Source: Real Simple
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Be careful; however, as you must incur more than 7% of your income to claim several of those deductions. Also, if you are renting and don’t get the benefit of the mortgage interest expense deductions, you may find it more beneficial to take the standard instead of the itemized deduction.
K.I.M., CPA