Tax Deductions You May Overlook


Friday, March 18th 2016, 9:37 am
By: News 9


We are now one month away from tax day. If you haven't filled out your forms just yet, there are a few tax deductions you may overlook. 

With 70,000 pages of tax code it can be easy to miss some deductions. The number one most overlooked deduction: babysitting costs along with daycare expenses and even summer camps. But in order to claim the up to $3,000 credit per child, you must be working or doing charity work when the babysitting takes place.

Second -- weight loss programs. In order to cash in, you must have a written prescription from your doctor.

Classes to help you stop smoking and even massages can qualify as long as you have that doctor's note.

Finally, free beer can get you a deduction. The courts have ruled small business owners who offer a free cold one to improve business can write it off.

To find the best deductions for you, it's best to find a certified expert.