Tax deductions are subtracted from your income, decreasing the amount of taxes you owe the government. When you file, you’ll choose to file either standard or itemized deductions. We recommend you add up all deductible expenses, compare both options and choose the one that gives you the higher deduction amount.
You may have heard of some common deductions, like charitable contributions, but did you know there are dozens of not-so-standard deductions out there too? We’ve put together a list of uncommon and often-missed deductible expenses that you may not know about. Determine the ones you qualify for and earn back every dollar you deserve.
Keep in mind, every deduction has its own set of rules and qualifications, and some can only be claimed if you itemize. Make sure you know the differences between tax deductions and credits too.