Most often overlooked tax deductions
Here's a list of the tax deductions that are most often overlooked by people who do their own taxes (and sometimes even when the taxes are done by professionals). While every situation is different, make sure you at least glance at these to see if you qualify when you are doing your taxes:
- Alimony
- Penalty on early withdraw of savings or IRAs
- Interest paid on student loans
- Self-employment tax
- Health insurance premiums
- Certain medical expenses including those on medical aids and equipment
- Nursing home medical care
- Treatment programs for alcohol, drugs, and smoking
- Special school costs for mentally or physically handicapped individuals
- State and local income tax paid
- Taxes on personal property such as cars, boats, motorcycles, etc.
- Taxes paid to a foreign government
- Mandatory contributions to state disability funds
- Points paid on a mortgage and certain other costs associated with the taking out of a mortgage
- Property and/or money donated to charities
- Mileage costs for charitable activities
- Theft and casualty losses
- Alimony
- Penalty on early withdraw of savings or IRAs
- Interest paid on student loans
- Self-employment tax
- Health insurance premiums
- Certain medical expenses including those on medical aids and equipment
- Nursing home medical care
- Treatment programs for alcohol, drugs, and smoking
- Special school costs for mentally or physically handicapped individuals
- State and local income tax paid
- Taxes on personal property such as cars, boats, motorcycles, etc.
- Taxes paid to a foreign government
- Mandatory contributions to state disability funds
- Points paid on a mortgage and certain other costs associated with the taking out of a mortgage
- Property and/or money donated to charities
- Mileage costs for charitable activities
- Theft and casualty losses
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| Categories: | finances taxes |
| Added: | on Aug 09, 2007 at 1:51 pm |
| Added By: | an anonymous user |

