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Commonly
Overlooked Deductions
A. P. Accounting & Bookkeeping Services, LLC can help
you find all the credits and deductions to which you are entitled, including those
hard-to-find and commonly overlooked tax deductions. Following is a list of
the top 50 commonly overlooked deductions. Not
every item will be applicable to every situation.
Fill out this form to receive a 20% discount on your tax return preparation.
(Not to be combined with any other
offer in any other promotional materials)
OR
Get your discount coupons
here
and call us at (203) 815-5045
or contact us at associates@apaccountingservices.com
to schedule a FREE
consultation!
Our work extends to every State, so, contact us wherever you are!
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Medical-related |
- Medical transportation expenses including tolls, parking, and
mileage for trips to health facilities, doctor's offices, laboratories, etc.
- Nursing home expenses that are primarily for medical care
- Medical aids such as crutches, canes, and orthopedic shoes
- Hearing aids, eye glasses, and contact lenses
- Hospital fees for services such as nursing, physical therapy,
lab tests, and x-rays
- Equipment for disabled or handicapped individuals
- Part of the life-care fee paid to a retirement home designated
for medical care
- The cost of alcohol and drug abuse programs, and certain smoking-cessation
treatments
- Wages for nursing services
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Job-related |
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Education expenses you paid to maintain or improve job skills
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A handicapped individual's work-related expenses
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Professional journals, magazines, and newspapers that are job-related
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Cost of safe deposit box used for investments or business
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Seeing-eye dogs for the handicapped or guard dogs for a business
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Required uniforms and work clothes not suitable for street wear
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Union dues
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Employment agency fees or commissions in certain cases
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Home office expenses, if for your primary place of business
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Job-seeking expenses within your present field of employment
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Reservist and National Guard overnight travel expenses
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Dues to professional organizations
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Business gifts up to $25 per customer or client
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Business expenses including travel, meals, lodging, and entertainment not reimbursed
by your employer
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Cleaning and laundering services while traveling for business
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Tools for use at your job
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Cellular phones required for business
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Half of the self-employment tax paid
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Self-employed health insurance premiums
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Property-related
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Commission to brokers or agents for the sale of property or property management
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Your moving expenses
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Personal property taxes on cars, boats, etc.
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General casualty and theft losses in excess of $100 and totaling more than 10%
of adjusted gross income
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Miscellaneous Overlooked Tax Deductions Student loan interest
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Special school costs for mentally or physically handicapped individuals
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Worthless stock or securities
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Fees for tax preparation or advice
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Legal fees to collect taxable alimony or Social Security
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Hobby expenses to the extent of hobby income you included in gross income
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Services of a housekeeper, maid, or cook needed to run your home for the benefit
of a qualifying dependent while you work
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Penalty on early withdrawal of savings
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Alimony paid, but not child support
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State income taxes owed from a prior year and paid in the tax year
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Fourth quarter estimated state taxes paid by December 31
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Taxes paid to a foreign government
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Mandatory contributions to state disability funds
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Points paid on mortgage or refinancing
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General sales tax deduction (including tax paid on large items such as cars or
boats) in lieu of the income tax deduction
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Cash and non-cash contributions to a qualified charity
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Mileage incurred in performing charitable activities
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Gambling losses to the extent of your gambling winnings
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