Now that all the 2011 tax deadlines have passed, it is a perfect time to start planning for the next tax season.
Here is a list of 10 deductions individual taxpayers may overlook provided by Bankrate.com:
- Additional charitable gifts – everyone knows the donation itself is a deduction, but did you know certain expenses are deductible as well? For example, you could be reimbursed charitable miles at $0.14 per mile, the cost of any supplies bought for the group, and if a uniform is required, you could deduct the cost of that uniform and its cleaning bills.
- Moving expenses – there are many moving expenses you can deduct when you relocate. For example, even your first relocation after college to start a new job is deductible.
- Job hunting costs – costs related to searching for a new job in your current profession can be […]