Don't Overlook 2015 Tax Deductions

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Some tax payers know about certain tax deductions that are geared toward their lifestyle. However, others have no idea what's out there. Filing taxes can be tricky, if you are doing them alone or with a tax consultant.

There are some tax deductions available that will help you cut your 2015 tax bill. " that's something people understand

"For married couples those standard deductions are even higher. For married couples over 65, they're even higher," said Ken Kates at Kates Tax Service in Decatur.

Even if you are single, there are overlooked tax deductions. For instance, property owners can deduct mileage for traveling back and forth to collect rent from their tenants. However, if you are going to file for a tax deductible you have to keep record of every documentation.

"A lot of people have a hard time keeping track of that mileage and that's one of the things that people probably cheat themselves on a lot. Because they don't keep good track of what they are doing during the course of a year," Kates said.

Even job hunting can be a tax deductible.

"You might have travel, resumes, you might have postage you might have long distance phone calls," Kates added.

Moving expenses for your first job, child care credit and student loan interest paid by a parent are other two percent miscellaneous deductions.

With each deduction, a taxpayer may come out better than last year, but that's not always the case.

"So all these things about this is a deduction. . . They may well be if you fall under certain circumstances," Kates added.

However, it never hurts to ask before you miss out on a break you deserve.


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