March and 1st Qtr statistics for Santa Cruz, Monterey & the Bay Area (click on title)

25 Most Overlooked Tax Deductions

  • Accounting fees for tax preparation services and IRS audits
  • Amortization of premium on taxable bonds
  • Appraisal fees for charitable donations or casualty losses
  • Appreciation on property donated to a charity
  • Cellular telephones
  • Cleaning and laundry services when traveling
  • Commissions and closing costs on sale of property
  • Contact lenses, eyeglasses and hearing devices
  • Depreciation of home computers
  • Federal estate tax on income with respect to a descendent
  • Fees for a safe-deposit box to hold investments
  • Improvements to your home
  • Investment advisory fees
  • Lead paint removal
  • Legal fees incurred in connection with obtaining or collecting alimony
  • Margin account interest expense
  • Mortgage prepayment penalties and late fees
  • Points on a home mortgage and certain refinancing
  • Real Estate taxes associated with the purchase or sale of property
  • 50% of self employment taxes on cars and boats
  • Seller paid points on the purchase of a home
  • State personal property taxes on cars and boats
  • Subscriptions to professional journals
  • Worthless stock or securities
  • Employee's moving expenses