February 3, 2007

The 13 Most Overlooked Tax Deductions...

AOL Money & Finance:

"Don't let an oversight force you to overpay your taxes. Here's a baker's dozen of deductions that you could easily miss or never realize you were entitled to take.

Every year, the IRS dutifully reports the most common blunders we taxpayers make on our returns. And every year, at or near the top of the list is forgetting to enter a Social Security number or making a mistake when entering the nine digits that identify us to IRS computers.

Before you bemoan such stupidity, ask yourself a simple question: Is that the most common error? Or just the most easily noticed goof?"

The 13 Most Overlooked Tax Deductions

1. State sales taxes
2. $250 educator's expenses
3. College tuition
4. Student loan interest paid by Mom and Dad
5. Out-of-pocket charitable contributions
6. Moving expenses to take first job
7. Military reservist travel expenses
8. Child-care credit
9. Estate tax on income in respect of a decedent
10. State tax you paid last spring
11. Refinancing points
12. Reinvested dividends
13. Jury pay paid to employer


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