7 Tax Deductions You Didn’t Know You Could Take
Like summer camp…and baggage fees…
You guys, the deadline for filing your taxes has past BUT – there is always next year. Haven’t even started reviewing your W-2s and 1099s and, gah, so many receipts? It’s not all bad. Here, seven surprising deductions that could save you serious cash.
As long as the job you’re looking for is in your current line of work, it’s A-OK to deduct the costs of interviewing–everything from résumé paper and printer ink to cabs and parking receipts. (Hey, you tried to find on-street parking for, like, four whole minutes.)
The Alliance for Women in Media, Pet Sitters International, the American Association of School Librarians… If you belong to a professional organization, your annual dues and any other miscellaneous membership expenses (like the fee to attend the spring power luncheon) can all be written off.
Come on, the fact that you now parle français totally helped your ability to communicate with clients overseas. And there’s another education-focused payoff: You can get a partial credit on your taxes for any money you put toward advanced learning and improving job-related skills.
Alas, there’s no longer a tax credit for installing storm windows or insulation, but there is a tax credit for adding big-picture eco-friendly items like solar water heaters, wind turbines and more to your home (a whopping 30 percent of the total cost).
That self-funded trip you took to Akron, Ohio, for the freelance assignment of a lifetime? Start itemizing your credit card statement. Travel expenses you incur when self-employed count as tax deductions. (Talk about the perks of being your own boss.)
Sure, you know all about child-care tax credits, but did you know that camp (as long as it’s not overnight) totally counts toward the deduction? Huzzah!
GIRL SCOUT COOKIES
OK, not the ones you actually ate. But if you bought any boxes to donate to a food drive or an organization in need, you have a free pass to write off the cost. Proof that no charitable donation is too small.
- Note as a Realtor I do not provide Tax advice – just thought this article was interesting. Please contact your CPA for more information.
I read this article at: http://www.purewow.com/money/7-Tax-Deductions-You-Didnt-Know-You-Could-Take
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