Even if you do not itemize, you belong on tax-deduction-tips.com.
For those of you who could not itemize your deductions for the 2009 tax year, we hope you look at Tax Tip #5. These are some big-time items that were deductible even for non-itemizers for 2009 and some are expected to be renewed for the 2010 tax year.
Landmark Health Care Reform
The healthcare reform bill has become law. Did your family have high health care expenses last year? Many medical related expenses are deductible. See Tax Tip #10 (medical exp) Did you know that if you are self employed with a profit last year, your health insurance premiums may be fully deductible as above the line tax write offs. This means they do not have to get to the 7.5% of AGI level to be deductible: Check out Tax Tip #10 and see if you are eligible.Tax-Deduction-Tips.com is interested in the tax deductions that affect the most people and for the largest amount of money.
Do you have some taxes on gambling winnings in 2010? Go directly to Tax Tip #4. Do not pass go. Take a look at Tax Tip #4 before you do anything. For folks wanting to make a car charity deduction contribution, maybe you should and maybe you shouldn't. Take a quick peek at Tax Tip #2 . We did not set out to be the only place in written electronic history to question giving a donation to charity. Often times, though, this donation does not make economic sense - either for you or the charity. Take a look at Tax Tip #2 before making this donation.
Will you pay a bunch of different taxes in 2010 other than just having federal income tax withheld? If you did, you should know that many other taxes that you paid are tax deductible on your federal returns for '10. These can really add up, were talking real estate taxes, either sales taxes paid or state income taxes, etc. etc. Take a look at Tax Tip #9 and make sure you don't miss out on these dedutions. Both itemizers and non-itemizers need to take a close look at other taxes paid. You should find something you are entitled to deduct.