Oye, Tio, You Owe Me Some Money!
by j V, posted on 2009-03-18 18:11:41By JV
Last article, we talked about deductions that could get you in trouble with the IRS. In this article it’s all about the good stuff that’s going to get us more money back, but the legal way. Here are a few legit tax deductions that you may include in your tax return forms:
- New in 2009, if you do not have cash to donate to a charitable cause, CHARGE it. But make sure you get receipts for the donation. Try and get all documentation that you can prove the contribution was a donation. Even contact your credit card company for a receipt.
- If your closet is full of unwanted clothes or items you are never going to use again, send them over to goodwill or another used store. Add up the value of the used items and include it, in your deduction. But like always make sure to get a receipt or else the contribution is not deductible
- Are you a student? Or a parent of a student? Well, the books, tuition fees and educational expenses are deductible as well.
- On the note of education, if you are a teacher or a parent that contributes to the classroom, you are eligible to include up to $250 in your return.
- If you were involved in a natural disaster or causality that was out of your control, you may claim your losses as a deductible. Check out www.irs.gov for more information on the details.
There many more deductibles taxpayers fail to include in their returns. Consult your account or research on the thousands of dollars you are forgetting to include in your return forms.
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