Thursday, November 20, 2008
 
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Helpful Tax Tips
Mableton, GA
678-213-1141
678-213-1142 (Fax)
College Park, GA
678-216-0212
678-216-0224 (Fax)
Stone Mountain, GA
678-704-6780
678-704-6782 (Fax)
  • Things to Bring for Tax Preparation
  • Most Overlooked Deductions
  • Top 10 Overlooked Credits
  • Recent Tax Law Changes
  • Business Structure Information
  • Itemized Deductions


  • Most Overlooked Deductions

    Please select a deduction from the list below:



    38 Overlooked Business Deductions

    1.  Accounting
    2.  Advertising
    3.  Automobile and truck expense (if not taking mileage expense)
    4.  Bank charges
    5.  Business interest
    6.  Cell phone
    7.  Commissions
    8.  Delivery and freight
    9.  Dues and subscriptions (business related)
    10.  Equipment rent
    11.  Gifts to clients (up to $25 per client)
    12.  Incorporation Fees
    13.  Insurance
    14.  Janitorial
    15.  Laundry and cleaning
    16.  Legal and professional
    17.  Licenses
    18.  Meal and entertainment
    19.  Mileage (48.5 cents a mile for tax year 2007)
    20.  Miscellaneous
    21.  Office expense
    22.  Outside services (lawn care, car washes, etc.)
    23.  Pager
    24.  Parking fees and tolls
    25.  Permits and fees
    26.  Postage
    27.  Printing
    28.  Rent
    29.  Rental cars
    30.  Repairs and maintenance
    31.  Security
    32.  Supplies
    33.  Telephone
    34.  Tools
    35.  Travel
    36.  Uniforms
    37.  Utilities
    38.  Wardrobe expenses 
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    19 Overlooked Casualty & Theft Loss Deductions

    1.  *Insurance and Reimbursements
    2.  Bathrooms
    3.  Bedrooms
    4.  Childern's clothing
    5.  Den
    6.  Dining Room
    7.  Electrical Appliances
    8.  Entrance Hall
    9.  Garage
    10.  Jewelry
    11.  Kitchen
    12.  Laundry & Basement
    13.  Linens
    14.  Living Room
    15.  Men's Clothing
    16.  Miscellaneous
    17.  Recreation Rooms
    18.  Sporting Equipment
    19.  Women's Clothing
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    12 Overlooked Contractors (Home Improvement, Builders, Painters) Deductions

    1.  Advertising
    2.  Cell Phone
    3.  Gas
    4.  Lease Equipment
    5.  Lease Payment
    6.  Mileage
    7.  Permits
    8.  Protective Gear (Boots, Gloves, Clothes)
    9.  Rental Equipment
    10.  Supplies/Materials
    11.  Tools
    12.  Uniforms
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    16 Overlooked Daycare Services Deductions

    1.  Accounting
    2.  Advertising
    3.  Cell Phones
    4.  Equipment
    5.  Food
    6.  Insurance
    7.  Laundry
    8.  Mileage/Gas
    9.  Office Expense
    10.  Office Phone
    11.  Rent/Lease
    12.  Repairs/Maintenance
    13.  Supplies
    14.  Tools
    15.  Utilities
    16.  Wages/Salaries
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    13 Overlooked Entertainers(Musicians, Comedians, Dancers) Deductions

    1.  Accounting
    2.  Advertising (flyers, business cards)
    3.  Cell Phone
    4.  Equipment used to perform services
    5.  Laundry/Dry Cleaning
    6.  Meals & Entertainment
    7.  Mileage/Gas (whichever is greater)
    8.  Payouts to individuals who assist or manage
    9.  Rental Cars
    10.  Rental Equipment/Supplies
    11.  Supplies
    12.  Travel Expenses (hotel, airfare, etc.)
    13.  Wardrobe/Costumes
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    10 Overlooked Food Servers & Bartenders Deductions

    1.  Cable (if required by employer)
    2.  Cell Phone
    3.  Classes ( wine tasting, etc.)
    4.  Continuing education related to your profession
    5.  Mileage/Gas
    6.  Professional Upkeep
    7.  Special Shoes or Boots
    8.  Supplies (table brush, bottle opener, cork screw)
    9.  Tip Out
    10.  Uniforms
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    15 Overlooked Hair Stylist/Barbers (Salon Owners) Deductions

    1.  Advertising
    2.  Booth rent
    3.  Business Phones
    4.  Cell Phones
    5.  Drycleaning/Laundry
    6.  Equipment
    7.  Gifts to clients (up to $25.00)
    8.  Hairshows, seminars, conference fees, accounting, payroll, tax prep
    9.  Insurance
    10.  Meals & Entertainment
    11.  Mileage/Gas
    12.  Pay to staff, contractors or support
    13.  Supplies
    14.  Travel
    15.  Uniforms
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    17 Overlooked IT/Computer Services Deductions

    1.  Accounting
    2.  Advertising
    3.  Cell Phones
    4.  Certifications
    5.  Continuing Education
    6.  Gifts to Clients (up to $25.00)
    7.  Hardware/Software
    8.  Insurance
    9.  Internet
    10.  Meals & Entertainment
    11.  Mileage/Gas
    12.  Office Expenses
    13.  Office Phone
    14.  Pay to contractors
    15.  Supplies
    16.  Tools
    17.  Travel Expense
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    13 Overlooked Lawn Service Deductions

    1.  Accounting
    2.  Advertising
    3.  Business License
    4.  Equipment
    5.  Insurance
    6.  Laundry
    7.  Meals & Entertainment
    8.  Mileage/Gas (whichever one is greater)
    9.  Pay to Contractors
    10.  Protective Gear (special boot, jackets & coat, eyewear)
    11.  Supplies
    12.  Tools
    13.  Uniforms
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    8 Overlooked Medical Doctor Deductions

    1.  Cell Phone
    2.  Insurance
    3.  Medical Supplies
    4.  Mileage
    5.  Office Lease, Rent
    6.  Some Parking
    7.  Travel Expenses
    8.  Uniforms
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    17 Overlooked Network Marketing Deductions

    1.  Accounting
    2.  Advertising
    3.  Cell Phones
    4.  Gifts to clients (up to $25.00)
    5.  Insurance
    6.  Mileage/Gas (whichever one is greater)
    7.  Networking Parties
    8.  Office lease, rent
    9.  Office Phones
    10.  Paid lunch, breakfast, dinner for potential clients
    11.  Rental Cars
    12.  Required Business Attire
    13.  Seminar/Coference Fees
    14.  Start up packages
    15.  Supplies
    16.  Travel Expenses
    17.  Utilize emails to clients
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    8 Overlooked Nurses/Traveling Nurse Deductions

    1.  Cell Phones
    2.  Continuing education or classes
    3.  Equipment(stetascopes, etc.)
    4.  Gowns
    5.  Licenses
    6.  Pagers
    7.  Shoes
    8.  Travel to multiple locations (clinics, hospitals)
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    10 Overlooked Office (Home) Deductions Deductions

    1.  Home Office deductions only apply to business profits that are positive and unreimbursed employee expenses.
    2.  Home Repairs/Maintenance (office related)
    3.  Home/Renters Insurance
    4.  Office Repairs/Maintenance (paint, carpet, etc.)
    5.  Other Expenses (water, sewer, garbage, snow removal, lawn care, other)
    6.  Rent/Mortgage
    7.  Security System
    8.  Square Feet of Office
    9.  Total Sq Feet of Home
    10.  Utilities
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    50 Overlooked Personal Deductions

    1.  Alcohol and drug abuse treatment cost
    2.  Alimony paid
    3.  Business expenses including travel, meals, lodging and entertainment not reimbursed by employer
    4.  Business gifts up to $25 per customer or client
    5.  Casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income
    6.  Cellular phones required for business
    7.  Cleaning and laundering services while traveling
    8.  Commission to brokers or agents for sale of property or property management
    9.  Cost of safe deposit box used for investments or business
    10.  Disabled individual’s work-related expenses
    11.  Dues to professional organizations
    12.  Education expenses paid to maintain or improve job skills
    13.  Employee's moving expenses
    14.  Equipment for disabled or handicapped individuals
    15.  Fees for tax preparation or advice
    16.  Fees or commissions paid to employment agencies
    17.  Gambling losses to the extent of winning 
    18.  Health insurance premiums for self-employed persons
    19.  Hearing aids, eyeglasses and contact lenses
    20.  Home office expenses, if primary place of business
    21.  Hospital fees for services such as nursing, physical therapy, lab tests and x-rays
    22.  Interest on student loans
    23.  Job-seeking expenses within present field of employment
    24.  Legal fees to collect taxable alimony
    25.  Mandatory contributions to state disability funds
    26.  Medical aids such as crutches, canes and orthopedic shoes
    27.  Medical transportation including tolls, parking, and standard mileage deductions for visiting doctors, dentists and picking up medicine
    28.  Mileage incurred in relation to charitable activities
    29.  New business start-up costs
    30.  Nursing home expenses
    31.  One-half of the self-employment tax paid
    32.  Out-of-pocket funds paid for school
    33.  Payment by December 31st of last quarter of estimated state taxes
    34.  Penalty on early withdrawal of savings
    35.  Personal property taxes on cars, boats, etc.
    36.  Points paid on mortgage or mortgage refinancing
    37.  Portion of life-care fees paid to retirement homes designated for medical care
    38.  Professional journals, magazines and newspapers that are job related
    39.  Property and Cash contributions to a recognized charity
    40.  Required uniforms and work clothes not suitable for street wear 
    41.  Seeing-eye dog or guard dog for business
    42.  Services of a housekeeper, maid or cook needed to run your home while you work and for the benefit of a qualifying dependent  
    43.  Special school costs for mentally, or physically disabled individuals
    44.  State income taxes owed from a prior year and paid in the tax year
    45.  Support of a non-dependent student living with you
    46.  Taxes to a foreign government
    47.  Tools bought for use at your job
    48.  Union dues
    49.  Wages for nursing services
    50.  Worthless stock or securities
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    11 Overlooked Police Officers Deductions

    1.  Cell Phone
    2.  Certifications
    3.  Continuing Education
    4.  Dry Cleaning
    5.  Equipment (additional firearms, boots, vest)
    6.  If you have done some independent or private details, please go to our tax tips page and look under top business deductions
    7.  Licenses
    8.  Meals
    9.  Mileage
    10.  Seminar/Conferences
    11.  Supplies (aminuition, protect vest, cuffs)
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    19 Overlooked Real Estate Agent/Loan Officer Deductions

    1.  Advertising
    2.  Answering service
    3.  Business Travel
    4.  Cell Phone
    5.  Client's lunch/dinner
    6.  Commissions/Fees paid to brokers
    7.  Conference/Seminar Fees
    8.  Continuing education classes
    9.  Depreciation of vechile
    10.  Dry Cleaning
    11.  Estimated Taxes
    12.  Gifts to clients (up to $25.00)
    13.  Lease payments (% of auto usage)
    14.  Mileage/Gas
    15.  Office space/rent/lease
    16.  Postage
    17.  Rental Car
    18.  Required business attire
    19.  Supplies: Lock Box, Signs, etc.
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    5 Overlooked Rental Prop/Invest (Deductible Repairs) Deductions

    1.  Fixing broken windows & doors
    2.  Fixing Gutters & Downspouts
    3.  Repainting inside or out
    4.  Repairing leaky plumbing & replacing fixtures
    5.  Replastering Holes
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    16 Overlooked Rental Property/Investment Deductions

    1.  *(Deductible Expenses)
    2.  *A Security deposit is not income if you are planning on returning it at the end of the lease. If you apply the deposit to the last month's rent, it is considered income.
    3.  Advertising
    4.  Cleaning & Maintenance Fee
    5.  Credit Checks for tenants
    6.  Depreciation
    7.  Insurance
    8.  Legal or Professional
    9.  Management Fees
    10.  Mortgage Interest
    11.  Pest Control, lawncare & trash disposal
    12.  Property Taxes
    13.  Repairs, including labor cost
    14.  Supplies
    15.  Travel Expenses
    16.  Utilities
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    8 Overlooked Teacher Deductions

    1.  Cable (if required by employer)
    2.  Cell Phone
    3.  Classroom supplies
    4.  Continuing Education
    5.  Hardware/Software purchased for classroom or work reasons (computer, laptop, disks, copier, scanner)
    6.  Internet
    7.  Mileage/Gas related to work training
    8.  Seminar/Conferences
    Back to Top


    8 Overlooked Truck Driver (Contractor) Deductions

    1.  Cell Phone
    2.  Communication Equipment
    3.  Fees paid to others
    4.  Fuel
    5.  Insurance
    6.  Repairs/Maintenance
    7.  Tools
    8.  Uniforms
    Back to Top


    10 Overlooked Truck Driver (Owner Operator) Deductions

    1.  Advertising
    2.  Cell Phone
    3.  Depreciation
    4.  Fees paid to others
    5.  Fuel
    6.  Insurance
    7.  Lease Payments
    8.  Repair/Maintenance
    9.  Tools
    10.  Uniforms
    Back to Top
     

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