Figure out the different tax deductions avenues? Check out how you can save some bucks from these deductions

There are some avenues of taxes. You pay the taxes but to the IRS, such avenues are not to be covered under the taxation laws. Things like medical expenses, home mortgages, charitable gifts, non-cash contribution and investment rates are not to be taxed. However, a lot of people of are unaware of such avenues from where they can be relieved from the burden of taxes. You can get all this info from the IRS official website or from any tax pro consultant. However, it is unfortunate, that many a people do not take advance of such deductions and keep on paying for something they might not.

I have tried to put a small but effective list which you can glimpse over whenever you go for tax filing. Before that let me inform you that only a tax professional or your tax preparer can judge whether these tax deductions apply to you or not. The list I am giving is not of course a complete list. However, you can get a gist of it. You can get the full info from www.irs.gov website.

Here go some of the deductions, which might apply, to you and you would not like to overlook them.

• Prescribed medical aids such as canes, crutches orthopedic shoes and so.
• Expenses you pay for education and to improve your professional skills
• Expenses for the search of jobs within your field of study and employment
• Mobile phones which are required for business
• Charges paid for early withdrawal of savings accounts.
• Home office expenses, if you home serves as a place of business.
• Charitable gifts, cash and non-cash, made to any charities.
• Some singled out stocks and securities which are become worthless and valueless
• The fees you pay for your tax preparations
• Half of the self-employment tax will be paid if you are a self-employed.
• Job related professional magazines, journals and newspapers
• Expenses incurred for any loss of your property due to natural calamity or theft.
• Expenses for any research purposes, equipment and supplies.
• Any real estate taxes.
• Any employment agency or recruiters’ fees.

To avail of such tax deductions, you must be aware of them first. It is good that you consult a professional regarding this. However, it must do this for your own interest. Visit the site I just showed above and you can get the proper info. Check out the faq page of this site.