Would you pay more federal income tax than you have to? Of course not. But it’s estimated that millions of people do just that each year because they overlook one or more key tax deductions. Are you taking all of what Uncle Sam is offering? Here are some often-overlooked tax deductions to keep in mind as we head into tax season:
State sales taxes. The federal government gives you a choice between deducting the amount you pay in state income taxes or state sales taxes. Some taxpayers don’t make both calculations and end up taking the less advantageous choice.
Charitable contributions. It’s easy to remember to deduct cash or in-kind donations of household items made throughout the year. But many taxpayers don’t realize that certain other out-of-pocket costs incurred while doing work for a charity can be deducted as well.
Job hunting and moving costs. Millions of Americans looked for new jobs – and moved their households – last year. Did you know that a host of expenses relating to finding a new job and relocating your household could be tax deductible?
These are just three of many types of tax deductions taxpayers may miss. Make 2013 the year you take all the legitimate deductions that you’re entitled to. Give us a call and we can make it happen!