Overlooked Deductions

Most Common Overlooked Deductions

We can help you find all of the credits and deductions you deserve, including those hard-to-find and commonly overlooked tax deductions. see our list below:

Property-related Overlooked Tax Deductions

  • Commission to brokers or agents for the sale of property or property management
  • Your moving expenses
  • Personal property taxes on cars, boats, etc.
  • General casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income

Job-related Overlooked Tax Deductions

  • Education expenses you paid to maintain or improve job skills
  • A handicapped individual’s work-related expenses
  • Professional journals, magazines, and newspapers that are job-related
  • Cost of safe deposit box used for investments or business
  • Seeing-eye dogs for the handicapped or guard dogs for a business
  • Required uniforms and work clothes not suitable for street wear
  • Union dues
  • Employment agency fees or commissions in certain cases
  • Home office expenses, if for your primary place of business
  • Job-seeking expenses within your present field of employment
  • Reservist and National Guard overnight travel expenses
  • Dues to professional organizations
  • Business gifts up to $25 per customer or client
  • Business expenses including travel, meals, lodging, and entertainment not reimbursed by your employer
  • Cleaning and laundering services while traveling for business
  • Tools for use at your job
  • Cellular phones required for business
  • Half of the self-employment tax paid
  • Self-employed health insurance premiums

Medical-related Overlooked Tax Deductions

  • Medical transportation expenses including tolls, parking, and mileage for trips to health facilities, doctor’s offices, laboratories, etc.
  • Nursing home expenses that are primarily for medical care
  • Medical aids such as crutches, canes, and orthopedic shoes
  • Hearing aids, eye glasses, and contact lenses
  • Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays
  • Equipment for disabled or handicapped individuals
  • Part of the life-care fee paid to a retirement home designated for medical care
  • The cost of alcohol and drug abuse programs, and certain smoking-cessation treatments
  • Wages for nursing services

Miscellaneous Overlooked Tax Deductions

  • Student loan interest
  • Special school costs for mentally or physically handicapped individuals
  • Worthless stock or securities
  • Fees for tax preparation or advice
  • Legal fees to collect taxable alimony or Social Security
  • Hobby expenses to the extent of hobby income you included in gross income