The tax season is fast upon us, and it’s time to file those taxes.  What you’re going to find out is that there are many deductions that you’re going to skip over.  This is why I highly recommend software packages such as TurboTax, if you’re not going to use a professional service.

Now, let’s take a look at the simple deductions that you can make this tax season to save you some big money on your tax return.

Interest: Yes, interest can be written off.  Whether you have a mortgage, or maybe a home equity loan.  Things such as those, as well as student loans can be written off on your tax return.

Charities: Did you donate to Goodwill, or maybe give to a good cause?  Both cash, and non-cash contributions can be written off.  You will want to make sure that you have written proof, as the government may ask for it, if you do get audited.

Your business: If you’re self employed, or maybe you run your business out of your home, you will find that you can write off little things such as your real estate taxes, rent, utilities, and more.  Your Accountant will most likely tell you that you will be able to write off a “portion” depending on how much of your house is used for an office.

Mileage: If you’re driving for anything business related, you should be sure to mark it down.  You can get reimbursed for each mile driven.  For example, I own a few condos, and every time I had to drive out to either fix something, or show the condo off, I was able to write this trip off on my taxes.

It’s always important to meet with a professional, because you can’t get all of the advice on the Internet.  Be sure to check and see what kind of deductions that you can get, and always remember that you want to be honest, and accurate when filing your taxes to avoid any further troubles!