- State Sales Tax Deduction – you can claim up to 10K of your state sales tax
- Educator Expenses: The Educator Expense Deduction allows eligible teachers to deduct up to $250 of out-of-pocket costs for school supplies and classroom needs
- Home Office Deduction: Many self-employed individuals may qualify for the home office deduction. If you have a dedicated space for work at home, you might be able to deduct a portion of your rent or mortgage interest, utilities, and maintenance costs.
- Charitable Contributions: People often forget to claim deductions for charitable donations they make. This can help reduce your taxable income if you itemize.
- Medical Expenses: Medical expenses that exceed 7.5% of your adjusted gross income are deductible. Eligible expenses include: as travel to and from medical appointments, insurance premiums, and even some over-the-counter medications.
- Mortgage Interest or interest on a second home: You can typically deduct the mortgage interest on both your primary and secondary home.
- Energy-Efficient Home Improvements: Improvements like energy-efficient appliances, solar panels, and other improvement can qualify
- Unreimbursed Employee Expenses: Typically, these include mileage, meals, or professional dues, you might be eligible for a deduction. These expenses can be claimed if they exceed 2% of your adjusted gross income.
- Lifetime Learning Credit: This credit can help offset the costs of higher education for yourself or your dependents. It’s often overlooked because the more popular American Opportunity Credit takes the spotlight, but this credit can still provide financial relief.
Completing your taxes doesn’t need to be challenging – give us a call and we’ll get you filed.
