What are some tax credits/deductions?

Question

I am trying to get organized for 2007 taxes, what are some of the common and not so common tax deductions/credits that may be overlooked and I can take advantage of to get more money back on my return?

Answer 1

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Answer 2

Beyond the obvious
EIT, earned income tax, low income having children
School reimbursements
School loan interest
Points if purchased home
Closing costs
State Local tax
Sales tax on large items
Expenses taking care of invalid parents
Mortgage interest
Medical expenses above 7% of your income
Things that you have done to upgrade the energy efficiency of your home (insulation etc)
There is a day care credit
Special needs costs
Items you need for work, but are not reimbursed for (uniforms etc)
Millage used for work but not reimbursed (does not include driving to and from work)
Lottery losses
Charitable contributions both cash and items
Union dues
If you work from home and a room is used only for that work a percentage of all expenses associated with that room

Answer 3

If you have kids, the child credit, or the additional child credit, if you send them to a day care, there is the Child Expense credit...Earned Income Credit, if your in school, the Hope or Life time credit, dependeding on your level.

That's all I can think of, off the top of my head

Answer 4

Depends on what kind of work you do ! You may be able to use eating out or gas .. All kinds of things ..

Answer 5

Business expense, medical, mortgage interest, charitable giving.

Answer 6

got Kids?.....the best little tax write offs in the world....not to mention cute too