20 Commonly Missed Tax Deductions

Clients of PorterKinney receive a list of 50 commonly-missed deductions.

Here are some highlights from that list of tax deductions:

1. Charitable Miles Driven
2. Interest on RV or Boat (that could qualify as a second home) loan.  HINT: You don’t actually have to live there.
3. Sales tax paid on a Motor Vehicle, Boat, Aircraft, Home (mobile, manufactured), or substantial addition or major renovation to a home
4. The work-related (or business-related) portion of your cell-phone bill
5. The work-related (or business-related) portion of your internet bill
6. Refinance loan origination fees
7. Real estate taxes (on main home and other homes and land)
8. Mortgage insurance Premiums (if home closed after 2006)
9. Home equity loan interest
10. Out-of-pocket volunteer expenses
11. Non-cash charitable donations (HINT: Goodwill)
12. Dependent Care Expenses (including preschool)
13. Books and other educational supplies for undergraduates who qualify for the American Opportunity Credit (such as books or Laptop computers)
14. Cell phone or computer purchase (used for work or business)
15. Protective clothing required at work
16. Union Dues
17. Tools and Supplies used for work or business
18. Job education (including travel to deductible job education)
19. Job-hunting costs in the same line of work
20. Home Office Expenses

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