Thursday, August 26, 2010

US Tax 25 deductions

http://www.forbes.com/2008/03/03/IRS-deductions-taxes-pf-taxes-in_gr_0303taxes_inl_slide_26.html?thisSpeed=30000

Snippet from the above URL:
1. Casualty, theft or embezzlement losses
2. Charitable donations: appraisal fees, appreciation on property donated and out-of-pocket expenses relating to charitable activities
3. Gambling losses to the extent of gambling winnings
4. Fees: legal expenses incurred in connection with alimony; accounting fees for tax prep or audits
5. Fifty percent of self-employment tax
6. Employee Expenses: Protective clothing, moving, union dues and educational expenses
7. Employee contributions to a state disability fund
8. Impairment-related work expenses for a disabled individual
9. Job hunting costs, including fees for résumé preparation and employment of outplacement agencies
10. Work-related cellphones, subscriptions to professional journals, trade or business tools and laundry services while traveling
11. Long-term care insurance premiums and health insurance premiums if self-employed
12. Contact lenses, eyeglasses and hearing devices plus contraceptives, if bought with a prescription
13. Alcoholism and drug abuse treatment
14. Hospital services fees (laboratory work, therapy, nursing services and surgery)
15. Fees paid for childbirth preparation classes and foster child care expenditures
16. Medical services: medical transportation and lodging; special schools and separately stated fees for medical care included in tuition; special equipment for the disabled
17. Investment advisory fees including IRA trustee's administrative fees billed separately
18. Margin account interest expense; also, penalty on early withdrawal of savings
19. Amortization of premium on taxable bonds
20. Fees for a safe-deposit box to hold investments
21. Worthless stock or securities
22. Taxes paid: federal estate tax on income; foreign taxes; state personal property taxes on cars and boats
23. Housing: commissions and closing costs; points on a home mortgage and certain refinancing; real estate taxes; seller-paid points on the purchase of a home.
24. Improvements to your home including lead paint removal
25. Mortgage prepayment penalties and late fees


No comments:

Post a Comment