Don't you love beating the IRS? We get a perverse pleasure from not paying taxes, so we put together some tips to help you pay less to the IRS.
* Points you pay for a mortgage or loan for improvement of your home.
* Unemployment and disability taxes your state withholds.
* Expenses related to seminars you attend for business purposes.Deductible items include registration fees, travel, lodging and 80% of the cost of your meals.
* Travel expenses you incur when checking on income-producing property.
* Cost of telephone, postage, office supplies and automobile operation (trips to and from broker).
* Books, magazines, and newsletters on investment, financial, or tax matters, including appropriate daily papers (e.g., The Wall Street Journal, The New York Times).
* Out-of-pocket expenses incurred in changing jobs. Include the cost of printing résumés or traveling to an interview.
* A portion of health insurance for the self-employed.
* Deductible items on December credit card statement, even if paid in the following year.
* Medical expenses.
* Charitable contributions.
* Miscellaneous business expenses.
Remember: You can only deduct business and miscellaneous deductions if they exceed 2% of your adjusted gross income.
