tax deductions?
Does anyone know of where to find a list of all the tax deductions available? Or if one even does exist.. Ive heard of all sorts a things one can claim on there w2s to increase there income tax check…
Thanks
Tags: All Sorts, Income Tax, Tax Check, Tax Deductions
The IRS has a web site where you can look up darn near anything tax related. Schedule A is where you put all of your deductions which lower your taxable income and thereby lower your tax liability and increase your refund. Instructions for Schedule A listing what all goes on it can be found here:
There are other things that lower your tax liability / increase your refund. They are credits and adjustments. There is an awful lot to discuss in one answer, so I suggest either searching throughout the IRS web site, take a tax class (usually for $150 or less), or see a tax professional.
You don’t claim anything on your W2. You would claim things on your 1040 Schedule A.
Check and look for Publication #17. It is very comprehensive, but it will give you information about deductions and might refer you to other publications with even more details.
You should pick up a copy of the Master Tax Guide published by CCH. It is very handy when doing tax returns.
has a list of the 50 most overlooked deductions.