top 10 overlooked tax breaks

14
Top 10 Overlooked Tax Breaks

Upload: gmlcpa

Post on 06-Aug-2015

162 views

Category:

Economy & Finance


1 download

TRANSCRIPT

Top 10 Overlooked Tax Breaks

Every Taxpayer Aims to Minimize

Tax Liability

Keep Your Hard Earned Money

We Want to Let You In On a Secret and Share Some

Tax Breaks

* Health Insurance & Long Term Care Premiums

* Prescription Drugs

* Transportation Expenses to Medical Facilities or Doctor’s Offices

* Nursing Home Medical Expenses

* Hearing Aids, Glasses, Contact Lenses, Orthopedic Shoes

* Some Stop Smoking Treatments

* Nurse’s Fees

*Weight Loss Programs Prescribed by a Doctor

#1 Medical & Dental Expenses

*Cars

*Boats

*and Others

*State Sales Tax Paid on Purchased Vehicles, Boat, Home Building Materials, etc.

#2 Personal Property Taxes

*Donated Clothing or Other Goods

*Mileage Incurred While Performing Charitable Activities

#3 Charitable Expenses

#4 Safe Deposit Box Fees

Up to the Amount of

Hobby Income

#5 Hobby Expenses

#6 Job Hunting Expenses

* Incurred Due to a Change in Your Job or Business Location

*Your New Workplace Must Be at Least 50 Miles Further From Your Old Home Than Your Old Job Location Was From Your Old Home

#7 Moving Expenses

Reservists and Members of the National Guard Who Travel More Than 100 Miles in a Day and Stay Overnight for Training Can Deduct Related Expenses

# 8 Military Reservists’ Travel Credit

*Child Care Costs

*Summer Day Camp

*Care Expenses for Adult Dependents

#9 Child Care Credits and Other Care Credits

#10 Energy-Efficient Home Improvements

www.gmlcpa.comCall Us Today!520.572.1248

And these are just some of the deductions. Let us help you combine one or two of these and you have just paid for your tax preparation fee… which, by the way, is also deductible.