The thousands of pages in the U.S. tax code get more confusing each year, but the big question on most AmericansÃ¢â‚¬â„¢ minds remains very simple: How can I reduce my taxable income? With tax season is in full swing, make tax deductions and tax credits your best friends for the next few months.
Many people probably donÃ¢â‚¬â„¢t realize how many expenses are tax deductible, and donÃ¢â‚¬â„¢t want to spend hundreds of dollars hiring a CPA to figure it out. If youÃ¢â‚¬â„¢re a seasoned tax filer, you donÃ¢â‚¬â„¢t ever overlook tax deductions like mortgage interest, student loan interest, real estate property taxes, and state taxes.
Still, plenty of little-known tax deductions hide deep in the tax code, tricking you into leaving tax refund money on the table. This list of commonly overlooked personal tax deductions will help beginners and experts alike discover major savings this tax year.
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