Orange County Tax Help

The best way to save money on taxes is to uncover deductions and credits that will reduce or eliminate your tax bill altogether. Although the major deductions and credits are usually taken there are plenty that are often looked over completely.

Some Unexpected Deductions

1.    Medical and Charitable – most people remember to keep up with receipts for charitable deductions and medical expenses but few know to keep up with mileage related to those expenses.  Mileage to medical appointments (including eye and dentist) and also mileage from volunteer work can be deducted on an itemized tax form.  The government recently increased the amount allowed per mile so the deductions can really add up.
2.    Donations – most people remember to keep up with cash donations but not everyone deducts non-cash donations (like the clothes you took to good will, the books you bought for bible school or the canned foods you donated to the church).   Most organization will give you a receipt if you ask for one and if you are donating anything valued over $200 you will need that receipt (any receipts will be valuable if you are ever audited).
3.    Children – most people remember to get the standard deduction for dependents and even the child tax credit but few realize the additional deductions that are available for children.  Any day care for children under 13 (that could include day camps in the summer) that is required for you to work could be eligible for deductions.  Educational expenses (college savings and also for children I college already) could also be available for some deductions.

There is more to the standard deductions than meets the eye.  To really save the most on taxes each year you need to reach beyond the standard deductions to the unexpected write offs and credits that may be available.