Tax Deductions that are Missed

Your taxes are done and in the mail and now you realize that you have forgotten to claim something.  This is not an uncommon thing to happen because many people are not well prepared when they go visit their tax man.   Here are the typically missed tax deductions so write them down do you do not find yourself missing them again. 

Non-cash donations are often missed.  Did you donate to Goodwill and clothing or furniture last year?  You must get a receipt for that donation and keep it with your records.  How about those points on your refinancing?   Were you one of the thousands who refinanced their homes this past year?   Then you paid points for that lower interest rate and that can be claimed also.

If you are a teacher then you would have educator expenses as would a principal, aid or instructor.   These people are allowed up to $250 for any classroom material that they purchased.  Computer equipment, books and supplies are all included.  Investment advice and tax planning are both deductible under miscellaneous.  Safe deposit box fees, investment advice and fees to legal and accounting help are included.