Overlooked Career and Finance Tax Deductions!

[Julio Gonzalez]

Did you know there are multiple career and finance tax deductions that you may be overlooking? Here’s a list of some great tax deductions to tax advantage of!

1. Lifetime learning credit - This credit allows you to take a credit of up to $2,000 per year to put towards education expenses after high school.
2. State taxes paid last year - If you paid state taxes in the previous year, ensure that you include this amount in this year’s taxes with your state tax itemized deduction.
3. First job moving expenses - If you have to move for your first job and you drive your own vehicle more than 50 miles to relocate, you are eligible to take a deduction for your moving expenses.
4. Specialized work clothes - If your work requires that you wear a costume or uniform and the attire is not suitable for general wear, you can deduct the cost of upkeep.
5. Jury pay given to employer - If you provide your employer with your jury duty reimbursement amount, you may be able to deduct this amount so that you are not taxed on it as this money just passes through you.
6. Whaling ship repair - If you or your client is a whaling captain, you may claim up to $10,000 for your equipment and ship repairs. Note: only Native Americans are permitted to be whalers.

What other career and finance deductions are you utilizing on your taxes?