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How to Save Money with Frequently-Missed Tax Deductions. Make sure you're keeping every
penny you can! Here are some legitimate deductions that filers often miss. You will need Mileage
calculations and receipts. Step 1. Deduct your state, local, and foreign income taxes,
and non-business property taxes. Experts say taxpayers often forget that these are deductible.
Step 2. Calculate mileage related to medical needs for you and any dependents, like trips
to the doctor and pharmacy. Mileage pertaining to charitable works is also deductible, as
long as the organization is a 501(c)3 non-profit. Keep receipts for everything you take as a
deduction; if you're audited, anything you can't document won't be allowed. Step 3. Deduct
expenses related to a job search as long as you're seeking a position in the same field
as your current field. Step 4. Cut your gambling losses: If you won more than $600 gambling,
but your losses exceeded those winnings, you may deduct the amount you won. You must be
able to prove your losses, so save receipts from trips to the casino and lottery ticket
purchases. Step 5. Claim your parents as dependents if they earn less than the exemption amount,
and you can prove you are responsible for at least half their living expenses. Dependent
parents don't necessarily have to live with you. Step 6. If you paid for financial advice,
claim it as an investment expense. Step 7. Deduct home renovations that are medically
necessary, like a wheelchair ramp. Step 8. If you have rental property, deduct any and
all expenses related to managing and maintaining it, including mileage involved in checking
on the property, collecting rent, or running around getting the supplies to make a repair,
the cost of which is also deductible. Step 9. If you missed these deductions or any others,
you may file amended tax returns going three years back. Did you know Americans spend about
100 days a year working just to pay their income taxes.