Below are deductions that you may or may not be aware of. If you have something to add, please share below in the comments. We all can learn from you. Tell us some other ways to deduct. You know you want to.
Ex-claimer: I am not a crook! I mean, I'm not a tax professional. I just like to learn and share. And ALL titles will be MOVIE titles. And in the comments below, tell me what your favorite 5 movies are. This is going to be FUN! None of the below are mine. I'll share mine in the comments.
Mile 22 or Ride Along
The IRS will allow you to count mileage, but you may have to prove it. So don't just lie that you drove 50,000 miles last year when your job is across the street. I would invest in a FREE mileage app to track you mileage. It won't be accurate, but it will give you a good average estimate. Once you get the mileage, look up the standard IRS mileage deduction rate. I believe it's 58 cent. Correct me below please. Example would be, if you drove 10 thousand miles last year, you multiply by 0.58 (10,000 x 0.58).
"Ernest Goes to Camp" for Tax Reduction
Sounds like a bad sequel to one the 1987 classic titled, Ernest Goes To Camp. Highly recommended film if you like corny movies. But yes, you can deduct day camps only. They fall under gyms or day care facilities. Get the camps information from last year and save. You'll need the camps name, address and Tax ID number.
Enemy of the State
If you paid State Taxes last year, then you can claim that for a deduction. I even learn this one this year. So, remember to add your State tax itemized deduction from last year to the state income taxes withheld from your paychecks last year. And I emphasize "Paychecks" because the average american is working two jobs or more.
By The Light of the Silvery Moon
This is for Home Owners only. Don't skip though, you will own property one day. You can get a federal tax credit for making significant home improvements to you home. If you credit appliances (no toasters) that save energy to your home or add solar panels to name a few. It's called the Residential Renewable Tax Credit. Solar, wind, geothermal and full cell tech are eligible. This policy will only be honored until 2021. Comment below if there was an extension or you know more about this please. Thanks.
Doctor Dolittle (There's different movie versions)
If your in a weight loss, swimming class and exercise program, you may qualify for a deduction. The only catch is, you have to have a doctors note. I like this one, but it's hilarious. Just reminds me of High School when I had to acquire passes to go to the bathroom. I need a pass to wipe my back region. LOL. This scenario can also relate to if you were in a drug or alcohol rehab facility. And all the above need to relate to a health problems for qualifications. Don't try to get a fake Doctor's Note. I know what your thinking.
The End! The end of my tips, but please share yours in the comments.
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