Tip Details Add a Related Tip

Rate as: Positive Negative

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
Rating: no ratings, 0 total Votes
Categories: finances taxes
Added: on Aug 09, 2007 at 1:51 pm
Added By: an anonymous user

Comments on this Tip

Add a Comment
There are no comments for this tip
Your Comment:
(how to format)
Rate This Tip:

Verify Humanity:
Sorry, we know it's annoying, but please enter the characters shown in the image to the left so that we know you're an actual person and not an evil spammer. Thanks.
       

Related Tips

How I Estimate My 2008 Tax Return for Free

Categories: taxes money finances
90% positive, 6 comments - last added on Feb 28, 2008 at 8:08 am
– Tip added by shareit35 on Dec 30, 2007 at 1:00 pm

How to keep yourself from using your credit card

83% positive, 4 comments - last added on Jan 05, 2008 at 11:02 am
– Tip added by NicoleVargas on Dec 05, 2007 at 12:25 pm

Tax Refund Estimator - Tax Return Estimator - How to Use it

Categories: taxes finances business
75% positive, 1 comment - last added on Feb 28, 2008 at 6:50 am
– Tip added by katiebutler87 on Feb 13, 2008 at 10:21 am

2007, 2008 TurboTax Online Basic, Deluxe, Premier, Home & Business

Categories: taxes finances money
100% positive, 1 comment - last added on Mar 01, 2008 at 2:39 pm
– Tip added by shareit35 on Feb 28, 2008 at 7:11 am

2007 - 2008 Free Online Federal Income Tax Refund, Return Estimator

100% positive, 0 comments
– Tip added by traversbowles on Feb 18, 2008 at 10:49 am

Tax Deductible Items - How to Find & Use More, 2008, 2009

Categories: taxes money finances
100% positive, 0 comments
– Tip added by traversbowles on Feb 18, 2008 at 9:47 am

Stimulus check dates

Categories: taxes finances money
100% positive, 0 comments
– Tip added by an anonymous user on Jun 20, 2008 at 11:43 am

Printable Income Tax Return Forms Online 2007, 2008

Categories: money taxes business
100% positive, 1 comment - last added on Mar 03, 2008 at 3:13 pm
– Tip added by shareit35 on Mar 03, 2008 at 12:58 pm

How to Repair Your Bad Credit Report

100% positive, 1 comment - last added on Feb 28, 2008 at 7:01 am
– Tip added by shareit35 on Feb 18, 2008 at 8:39 am

How to get a commercial mortgage in the UK

66% positive, 0 comments
– Tip added by an anonymous user on Mar 24, 2008 at 7:12 am

Tax Write Off List 2008, 2009

Categories: taxes money
100% positive, 0 comments
– Tip added by traversbowles on Aug 04, 2008 at 8:55 am

Delaware Registered Agent

Categories: business finances
100% positive, 0 comments
– Tip added by hotels3cool on Feb 20, 2008 at 2:02 am

Credit Cards Evil or Blessings?

no ratings, 0 comments
– Tip added by moneymingle on May 11, 2008 at 11:24 pm

Green Credit Card New Deals

Categories: finances
0% positive, 0 comments
– Tip added by chelseawatkins on Apr 21, 2008 at 4:44 am

Tax Utilizing the Saver's Credit

Categories: taxes
no ratings, 0 comments
– Tip added by DianeDean on Apr 14, 2008 at 8:22 pm

Deductible Spring Cleaning

Categories: taxes
no ratings, 0 comments
– Tip added by DianeDean on Apr 14, 2008 at 8:19 pm

Student Loan Interest Deduction

Categories: taxes
no ratings, 0 comments
– Tip added by DianeDean on Apr 14, 2008 at 6:58 pm

What Are My Appeal Rights

Categories: taxes
no ratings, 0 comments
– Tip added by DianeDean on Apr 14, 2008 at 6:54 pm

Debt Relief, Credit Card Debt Relief, Debt Settlement & Negotiation Program

Categories: Business finances
0% positive, 0 comments
– Tip added by brightcredit_tipstrs on Mar 07, 2008 at 12:02 am