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10 Credits Often Overlooked On Tax Returns.

1) Bad debt expense: If you are owed money and are not going to receive it, you may be able to write this off.

2) Traditional IRA Contributions: Whether you can take this deduction depends on if you have a retirement plan at work or not. You WILL have to pay taxes on when you take it out though.

3) Moving expenses for work: must be 50 miles away

4) Charity Donations: you can deduct money and services/goods, as well as the related miles you drove

5) American Opportunity Credit: refundable credit of $2500 for four years of high education if you qualify

6) Student Loan Interest Deduction: can deduct interest payments up to $2500

7) Unemployment expenses: can deduct business cards, resume costs, etc. to find a new job

8) Child Care Deduction: If under age 12, you can pay an outside party to take care of your kids and deduct that amount

9) Child Tax Credit: if child is under 17, can you deduct $1000 for each kid

10) Earned Income Credit: if you are a low-income earner and have qualifying children, you can take this credit on your tax return. 

User | 14/12/2017