A Bunch of Tax Deductions That are Often Overlooked

by David Ning · 3 comments

I get junk emails many times a day but this list of tax deductions is quite useful so I want to share it with you. Those that haven’t filed taxes yet should take a look and see if you’ve missed anything.

  1. Any expenses paid related to charity activities. This even includes the transportation costs.
  2. Any transportation cost or lodging expenses incurred during a medical crisis
  3. Legal fees you had to pay while obtaining or collecting alimony
  4. Gambling losses can be tax deducted too. Actually, it can only be offset with the gambling gains but do not forget this.
  5. Money spent looking for a new job in your current occupation, including fees for resume preparation and hiring a headhunter are tax deductible.
  6. Contraceptives, if bought with a prescription
  7. Any commissions and closing costs when you sell a property can be deducted
  8. Seller-paid points on the purchase of a home
  9. Education expenses are tax deductible if it is required by law or your employer. Also if it is needed to maintain or improve your skills
  10. Pre-payment penalties and late fees for a mortgage

Remember to take advantage of all the tax deductions we can get by not missing any of the above.  This useful list came from JKLasser.com so thank you for sharing that with us.

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  • Mike Huang says:

    This post seriously helps a lot of people that PAYS Uncle Sam…:)

    -Mike

  • LiteDeals says:

    For item 6, if your employer offer some kind of Health Saving Account, it is qualified for pre-tax purchase even without a prescription.

    For item 4, I am just wondering how you can prove it in an IRS audit…

  • scott fish says:

    This is a great list of deductions overlooked. Sometimes you can find lost money. 🙂

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