Best 9 Deductions on Taxes You Have To Know About
Did you know that the most recent numbers proved that over 45 million of us itemize deductions on our 1040s- which means that we’re claiming $1.2 trillion worth of tax deductions? Yep, I’m not joking, that’s the number: $1,200,000,000,000!
And in the same year, taxpayers decided to claim the standard deduction accounted for $747 billion. As you probably have guessed already, those who took the easy way out short-changed themselves eventually.
Plus, if you turned 65 years old in 2021, you have to know that you qualify for a bigger standard deduction than younger folks. So, we decided to make a list of the 10 most overlooked tax deductions. If you deserve them, claim them as soon as possible! Don’t you want to keep the money in YOUR pocket?