Uncategorized Don’t Miss These Commonly Missed Tax Deductions and Credits Read the Article Open Share Drawer Written by Philip Taylor Published Jun 5, 2019 2 min read No one likes to feel like they’re missing out. Especially when it comes to opportunities to pay fewer taxes. As this year’s tax deadline approaches, let’s take a look at some of the most commonly missed tax deductions. Tax deductions like home mortgage interest, taxes (state and property), and charitable donations surely make this list. But that’s likely not what you’re interested in. You want to know about those less-publicized tax deductions that you might be missing. Above-the-line Deductions That Help You Save: While every missed tax deduction is potentially a missed opportunity to save on your tax bill, some deductions are also great savings vehicles designed to help you in other ways. I’m talking about the deductions for contributions to a Traditional IRA or Health Savings Accounts. Some of the other above-the-line tax deductions that you don’t want to miss include: Educator Expenses Student Loan Interest Moving Expenses Itemized Deductions: When you file your tax return, you have a choice to use the standard deduction or itemize your deductions. Many people mistakenly take the standard deduction each year when they could be paying fewer taxes by itemizing their deductions. If you’re itemized deductions are more than the standard deduction, then you should itemize. For most people, the 2016 standard deduction is: $6,300 Single or Married filing separately $12,600 Married filing jointly or Qualifying widow(er) with dependent child $9,300 Head of household If you’re close to being over the standard deduction threshold don’t forget your receipts for : Medical Expenses Unreimbursed Employee Expenses Charitable Donations State Sales Tax This may help push you over the threshold and maximize your tax refund when you sit down to prepare your taxes. Don’t worry about figuring out whether or not you’re eligible to take the standard deduction or itemized deductions and forgetting these tax deductions and credits. TurboTax will ask you simple questions about you and give you the tax deductions and credits that you are eligible for. Written by Philip Taylor More from Philip Taylor Los comentarios están cerrados. Browse Related Articles Planificación de Impuestos ¿Se te pasó la fecha límite para presentar tu declar… Planificación de Impuestos Mañana es la fecha límite para declarar impuestos: ¡… Planificación de Impuestos ¿Ya declaraste tus impuestos? Averigua qué registros … Trabajo por Cuenta Propia ¿Trabajas por cuenta propia? Revisa las fechas límite… Seguros Médicos ¿Cuándo se puede reclamar una deducción tributaria p… Reembolso de Impuestos Qué esperar cuando estas esperando… tu reembolso… Planificación de Impuestos Según el IRS, este año aumentaron los reembolsos de i… Ingresos e Inversiones Amigos con beneficios tributarios: ¿Trabajas desde cas… Deducciones y Créditos de Impuestos Maneras en que los cambios en tu vida pueden ahorrarte … Noticias TurboTax Cerrando la brecha de la educación financiera: Una mir…