2005 has ended. Now it is time to get your records in order for the coming tax season.
Don't wait until it's too late and you lose precious deductions.
Here is a list of deductions that you won't want to miss out on!
TEN COMMONLY OVERLOOKED TAX DEDUCTIONS
- Medical transportation including tolls, parking and standard mileage deduction for visiting doctors, dentists, and picking up medicine.
- Medical aids such as crutches, canes and orthopedic shoes.
- Hearing aids, eyeglasses and contact lenses.
- Hospital fees for services such as nursing, physical therapy, lab tests and x-rays.
- Equipment for disabled or handicapped individuals.
- Mileage incurred in relation to charitable activities at $0.14 per mile.
- Employment agency fees or commissions.
- Required uniforms and work clothes not suitable for street wear.
- Job seeking expenses within your present field of employment.
- State and local income taxes owed from a prior year and paid in the current tax year.
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