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Mar
21
Only a few weeks away from April 15!? And you didn’t do your taxes? Maybe that’s a good thing, because you should definitely read this before you get it done. The following is a list of 25 deductions you can make to pay less to the Tax man. Keep in mind that some or all of them might not apply to you, so definitely work with a qualified Accountant.
1. Loss from theft.
2. Fees for charitable donations.
3. Appreciation on property donated to charity.
4. Amortization of premium on taxable bonds.
5. Drug abuse or alcoholism treatment.
6. Fees for Accounting tax preparation and IRS audits.
7. Cell Phones.
8. Cleaning and laundering services when traveling.
9. Closing costs and commissions on property sale.
10. Eye glasses, contact lenses & hearing devices.
11. Prescription condoms and other contraceptives.
12. Home computer depreciation.
13. New job search costs (resume prep, job agency brokers).
14. Education costs for learning or enhancing new skills that are work related.
15. Labor union dues.
16. Moving expenses for Employee.
17. State disability contributions from Employee.
18. Gambling losses to the extent of gambling gains.
19. Expenses related to Foster child care.
20. Expenses related to Foreign taxes.
21. Costs of Childbirth preparation classes.
22. Costs for safe-deposit box for holding investments.
23. Federal estate on income for a descendent.
24. Home improvement expenses.
25. Legal abortion expenses.