Top 5 Tax Deductions Most People Miss

Deduct State Sales Tax on Big Purchases

– If your state has no income tax, you can deduct state sales tax instead. – Applies to major purchases like cars, boats, and home renovations.

Claim Medical Bills Over 7.5% of Your Income

– You can deduct unreimbursed medical and dental expenses exceeding 7.5% of your adjusted gross income (AGI). – Includes prescriptions, doctor visits, and some treatments.

Save on Student Loan Payments

– Deduct up to $2,500 in student loan interest, even if you don’t itemize. – Available for singles earning under $75,000 and couples under $155,000.

Charitable Contributions

– You can deduct donated items, travel expenses for volunteering, and mileage related to charity work. – Always keep records of donations! Contact Jarrar & Associates CPA today for expert tax planning!