If you decide to fill your tax return out by yourself, you may be missing tax deductions. Reno Accountants have educated themselves and have hours of experience in handling various types of returns. This allows them to find more deductions for you.
One of the most missed deductions is car and travel expenses. You may think that since you don’t own a business you may not be eligible for travel deductions, but that is not the case. There are travel deductions available for medical visits and charity work. Make sure to ask your Reno accountant about all the possible ways you can save on your next tax return.
In regards to medical, there is a standard rate that can be deducted for your travel expenses to and from the doctor. Although this may not seem like a lot, it all adds up in the end. Your volunteer work with charities is another opportunity. Yes, you can write off your donations, but you can also get a deduction for your travel expenses to and from the charity or charitable event. Every time you are in your car, it is important to ask yourself whether you can write of your mileage.
Another commonly missed deduction is job reimbursements. There are many times throughout the year where you may need to buy something or drive somewhere for your job, but you are not reimbursed. If you have expenses like these and your employer did not reimburse you, then you can deduct these business related expenses on your tax return.
These are just a couple of the many tax deductions available to you. To make sure that you are deducting everything that you can talk to a Reno accountant about your next tax return.
Until Next Time,
Reno’s Best CPA