Most Overlooked Deductions

Most Overlooked Deductions

Posted on October 25, 2018 by G & R Tax Services

Please select a deduction from the list below:

Business

Casualty & Theft Loss

Contractors (Home Improvement, Builders, Painters)

Daycare Services

Entertainers(Musicians, Comedians, Dancers)

Fire Fighters

Flight Attendants

Food Servers & Bartenders

Hair Stylist/Barbers (Salon Owners)

IT/Computer Services

Lawn Service

Medical Doctor

Medical Doctors

Military Personnel

Network Marketing

Nurses/Traveling Nurse

Office (Home) Deductions

Personal

Police Officers

Real Estate Agent/Loan Officer

Rental Prop/Invest (Deductible Repairs)

Rental Property/Investment

Teacher

Truck Driver (Contractor)

Truck Driver (Owner Operator)

Uber / Lyft Driver

38 Overlooked Business Deductions

1. Accounting

2. Advertising

3. Automobile and truck expense (if not taking mileage expense)

4. Bank charges

5. Business interest

6. Cell phone

7. Commissions

8. Delivery and freight

9. Dues and subscriptions (business related)

10. Equipment rent

11. Gifts to clients (up to $25 per client)

12. Incorporation Fees

13. Insurance

14. Janitorial

15. Laundry and cleaning

16. Legal and professional

17. Licenses

18. Meal and entertainment

19. Mileage (48.5 cents a mile for tax year 2007)

20. Miscellaneous

21. Office expense

22. Outside services (lawn care, car washes, etc.)

23. Pager

24. Parking fees and tolls

25. Permits and fees

26. Postage

27. Printing

28. Rent

29. Rental cars

30. Repairs and maintenance

31. Security

32. Supplies

33. Telephone

34. Tools

35. Travel

36. Uniforms

37. Utilities

38. Wardrobe expenses

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19 Overlooked Casualty & Theft Loss Deductions

1. *Insurance and Reimbursements

2. Bathrooms

3. Bedrooms

4. Childern’s clothing

5. Den

6. Dining Room

7. Electrical Appliances

8. Entrance Hall

9. Garage

10. Jewelry

11. Kitchen

12. Laundry & Basement

13. Linens

14. Living Room

15. Men’s Clothing

16. Miscellaneous

17. Recreation Rooms

18. Sporting Equipment

19. Women’s Clothing

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12 Overlooked Contractors (Home Improvement, Builders, Painters) Deductions

1. Advertising

2. Cell Phone

3. Gas

4. Lease Equipment

5. Lease Payment

6. Mileage

7. Permits

8. Protective Gear (Boots, Gloves, Clothes)

9. Rental Equipment

10. Supplies/Materials

11. Tools

12. Uniforms

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16 Overlooked Daycare Services Deductions

1. Accounting

2. Advertising

3. Cell Phones

4. Equipment

5. Food

6. Insurance

7. Laundry

8. Mileage/Gas

9. Office Expense

10. Office Phone

11. Rent/Lease

12. Repairs/Maintenance

13. Supplies

14. Tools

15. Utilities

16. Wages/Salaries

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13 Overlooked Entertainers(Musicians, Comedians, Dancers) Deductions

1. Accounting

2. Advertising (flyers, business cards)

3. Cell Phone

4. Equipment used to perform services

5. Laundry/Dry Cleaning

6. Meals & Entertainment

7. Mileage/Gas (whichever is greater)

8. Payouts to individuals who assist or manage

9. Rental Cars

10. Rental Equipment/Supplies

11. Supplies

12. Travel Expenses (hotel, airfare, etc.)

13. Wardrobe/Costumes

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11 Overlooked Fire Fighters Deductions

1. Cell Phone

2. Certifications (classes)

3. Dry cleaning

4. Internet

5. Meals

6. Mileage

7. Office Expenses

8. Parking

9. Protective Gear

10. Supplies

11. Tools

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11 Overlooked Flight Attendants Deductions

1. Cell Phone

2. Certifications (Classes)

3. Dry Cleaning

4. Internet

5. Meals

6. Mileage

7. Parking

8. Professional upkeep

9. Supplies (panty hose, uniform accessories, shoes, unreimbursed clothing)

10. Taxi Fees

11. Wardrobe Expenses

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10 Overlooked Food Servers & Bartenders Deductions

1. Cable (if required by employer)

2. Cell Phone

3. Classes ( wine tasting, etc.)

4. Continuing education related to your profession

5. Mileage/Gas

6. Professional Upkeep

7. Special Shoes or Boots

8. Supplies (table brush, bottle opener, cork screw)

9. Tip Out

10. Uniforms

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15 Overlooked Hair Stylist/Barbers (Salon Owners) Deductions

1. Advertising

2. Booth rent

3. Business Phones

4. Cell Phones

5. Drycleaning/Laundry

6. Equipment

7. Gifts to clients (up to $25.00)

8. Hairshows, seminars, conference fees, accounting, payroll, tax prep

9. Insurance

10. Meals & Entertainment

11. Mileage/Gas

12. Pay to staff, contractors or support

13. Supplies

14. Travel

15. Uniforms

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17 Overlooked IT/Computer Services Deductions

1. Accounting

2. Advertising

3. Cell Phones

4. Certifications

5. Continuing Education

6. Gifts to Clients (up to $25.00)

7. Hardware/Software

8. Insurance

9. Internet

10. Meals & Entertainment

11. Mileage/Gas

12. Office Expenses

13. Office Phone

14. Pay to contractors

15. Supplies

16. Tools

17. Travel Expense

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13 Overlooked Lawn Service Deductions

1. Accounting

2. Advertising

3. Business License

4. Equipment

5. Insurance

6. Laundry

7. Meals & Entertainment

8. Mileage/Gas (whichever one is greater)

9. Pay to Contractors

10. Protective Gear (special boot, jackets & coat, eyewear)

11. Supplies

12. Tools

13. Uniforms

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17 Overlooked Medical Doctor Deductions

1. Cell Phone

2. Certain Internet Costs

3. Certifications

4. Continuing Education

5. Dues for Professional Organizations

6. Equipment (Stethoscopes, etc.)

7. Insurance

8. Licenses

9. Medical Supplies

10. Mileage

11. Newsletters & Subscriptions

12. Office Lease, Rent

13. Pager (work)

14. Seminars & Conferences

15. Some Parking

16. Travel Expenses

17. Uniforms

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9 Overlooked Medical Doctors Deductions

1. Certain Internet Costs

2. Certifications

3. Continuing Education

4. Dues for Professional Organizations

5. Equipment (Stethoscopes, etc.)

6. Licenses

7. Newsletters & Subscriptions

8. Pager (work)

9. Seminars & Conferences

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7 Overlooked Military Personnel Deductions

1. Additional Ammo

2. Cell Phone

3. Certain Internet Costs

4. Dry cleaning

5. Parking

6. Supplies

7. Travel

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17 Overlooked Network Marketing Deductions

1. Accounting

2. Advertising

3. Cell Phones

4. Gifts to clients (up to $25.00)

5. Insurance

6. Mileage/Gas (whichever one is greater)

7. Networking Parties

8. Office lease, rent

9. Office Phones

10. Paid lunch, breakfast, dinner for potential clients

11. Rental Cars

12. Required Business Attire

13. Seminar/Coference Fees

14. Start up packages

15. Supplies

16. Travel Expenses

17. Utilize emails to clients

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12 Overlooked Nurses/Traveling Nurse Deductions

1. Cell Phones

2. Certifications

3. Continuing education or classes

4. Dues for Professional Organizations

5. Equipment(stetascopes, etc.)

6. Gowns

7. Licenses

8. Newsletters & Subscriptions

9. Pagers

10. Seminars and Conferences

11. Shoes

12. Travel to multiple locations (clinics, hospitals)

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10 Overlooked Office (Home) Deductions Deductions

1. Home Office deductions only apply to business profits that are positive and unreimbursed employee expenses.

2. Home Repairs/Maintenance (office related)

3. Home/Renters Insurance

4. Office Repairs/Maintenance (paint, carpet, etc.)

5. Other Expenses (water, sewer, garbage, snow removal, lawn care, other)

6. Rent/Mortgage

7. Security System

8. Square Feet of Office

9. Total Sq Feet of Home

10. Utilities

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49 Overlooked Personal Deductions

1. Alcohol and drug abuse treatment cost

2. Alimony paid

3. Business expenses including travel, meals, lodging and entertainment not reimbursed by employer

4. Business gifts up to $25 per customer or client

5. Casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income

6. Cellular phones required for business

7. Cleaning and laundering services while traveling

8. Commission to brokers or agents for sale of property or property management

9. Cost of safe deposit box used for investments or business

10. Disabled individual’s work-related expenses

11. Dues to professional organizations

12. Education expenses paid to maintain or improve job skills

13. Employee’s moving expenses

14. Equipment for disabled or handicapped individuals

15. Fees for tax preparation or advice

16. Fees or commissions paid to employment agencies

17. Gambling losses to the extent of winning

18. Hearing aids, eyeglasses and contact lenses

19. Home office expenses, if primary place of business

20. Hospital fees for services such as nursing, physical therapy, lab tests and x-rays

21. Interest on student loans

22. Job-seeking expenses within present field of employment

23. Legal fees to collect taxable alimony

24. Mandatory contributions to state disability funds

25. Medical aids such as crutches, canes and orthopedic shoes

26. Medical transportation including tolls, parking, and standard mileage deductions for visiting doctors, dentists and picking up medicine

27. Mileage incurred in relation to charitable activities

28. New business start-up costs

29. Nursing home expenses

30. One-half of the self-employment tax paid

31. Out-of-pocket funds paid for school

32. Payment by December 31st of last quarter of estimated state taxes

33. Penalty on early withdrawal of savings

34. Personal property taxes on cars, boats, etc.

35. Points paid on mortgage or mortgage refinancing

36. Portion of life-care fees paid to retirement homes designated for medical care

37. Professional journals, magazines and newspapers that are job related

38. Property and Cash contributions to a recognized charity

39. Required uniforms and work clothes not suitable for street wear

40. Seeing-eye dog or guard dog for business

41. Services of a housekeeper, maid or cook needed to run your home while you work and for the benefit of a qualifying dependent

42. Special school costs for mentally, or physically disabled individuals

43. State income taxes owed from a prior year and paid in the tax year

44. Support of a non-dependent student living with you

45. Taxes to a foreign government

46. Tools bought for use at your job

47. Union dues

48. Wages for nursing services

49. Worthless stock or securities

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12 Overlooked Police Officers Deductions

1. Cell Phone

2. Certifications

3. Continuing Education

4. Dry Cleaning

5. Equipment (additional firearms, boots, vest)

6. If you have done some independent or private details, please go to our tax tips page and look under top business deductions

7. Internet

8. Licenses

9. Meals

10. Mileage

11. Seminar/Conferences

12. Supplies (aminuition, protect vest, cuffs)

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19 Overlooked Real Estate Agent/Loan Officer Deductions

1. Advertising

2. Answering service

3. Business Travel

4. Cell Phone

5. Client’s lunch/dinner

6. Commissions/Fees paid to brokers

7. Conference/Seminar Fees

8. Continuing education classes

9. Depreciation of vechile

10. Dry Cleaning

11. Estimated Taxes

12. Gifts to clients (up to $25.00)

13. Lease payments (% of auto usage)

14. Mileage/Gas

15. Office space/rent/lease

16. Postage

17. Rental Car

18. Required business attire

19. Supplies: Lock Box, Signs, etc.

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5 Overlooked Rental Prop/Invest (Deductible Repairs) Deductions

1. Fixing broken windows & doors

2. Fixing Gutters & Downspouts

3. Repainting inside or out

4. Repairing leaky plumbing & replacing fixtures

5. Replastering Holes

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16 Overlooked Rental Property/Investment Deductions

1. *(Deductible Expenses)

2. *A Security deposit is not income if you are planning on returning it at the end of the lease. If you apply the deposit to the last month’s rent, it is considered income.

3. Advertising

4. Cleaning & Maintenance Fee

5. Credit Checks for tenants

6. Depreciation

7. Insurance

8. Legal or Professional

9. Management Fees

10. Mortgage Interest

11. Pest Control, lawncare & trash disposal

12. Property Taxes

13. Repairs, including labor cost

14. Supplies

15. Travel Expenses

16. Utilities

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10 Overlooked Teacher Deductions

1. Cable (if required by employer)

2. Cell Phone

3. Certifications

4. Classroom supplies

5. Continuing Education

6. Hardware/Software purchased for classroom or work reasons (computer, laptop, disks, copier, scanner)

7. Internet

8. Mileage/Gas related to work training

9. Newsletters & Subscriptions (profession related)

10. Seminar/Conferences

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8 Overlooked Truck Driver (Contractor) Deductions

1. Cell Phone

2. Communication Equipment

3. Fees paid to others

4. Fuel

5. Insurance

6. Repairs/Maintenance

7. Tools

8. Uniforms

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10 Overlooked Truck Driver (Owner Operator) Deductions

1. Advertising

2. Cell Phone

3. Depreciation

4. Fees paid to others

5. Fuel

6. Insurance

7. Lease Payments

8. Repair/Maintenance

9. Tools

10. Uniforms

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17 Overlooked Uber/Lyft Driver Deductions

1. Additional chargers for passengers

2. Advertising

3. Car detailing (cleaning)

4. Car washes

5. Cell Phone (including internet plans)

6. Commissions and Fees (including safe rider fees)

7. Depreciation

8. Lease payments

9. Maintenance and repairs

10. Mileage (53.5 cents a mile for 2017)

11. Gasoline (including gasoline taxes)

12. Insurance

13. Oil and Oil Changes

14. Rental fee for an Uber phone

15. Supplies (Water, gum, snacks, etc.)

16. Tools

17. Vehicle Registration Fees