You probably already know that finding and using more tax deductible items can lower your tax bill. But how do you find and use these valuable tax deductions? Easy. . . You can go to Turbotax online and use their tax deduction maximizer to find more tax deductible items that are available to you.
There are over 350 tax deductible items the maximizer will search and show you how to qualify for.
This is how the deduction maximizer works
- Shows you how to qualify Each tax deduction has certain requirements to qualify. You are shown how to qualify for each deduction.
- Looks for deduction opportunities As you enter your information, tax deductible items are being searched to see which ones you may qualify for.
- Miscellaneous tax deductions Once you've entered your information as prompted, the the deduction maximizer will alert you to any of the over 350 other miscellaneous tax deductible items you may qualify for.
- If you own a home Instead of taking the standard deduction, let the deduction maximizer check to see if you could save money by itemizing. If the interest you paid on your mortgage is more than the standard deduction, you would be better off itemizing.
- Should you Itemize? Whether you own a home or not, itemizing can still save you lots of money. Let the maximizer determine which saves you the most money. Itemizing or standard.
To learn more about tax deductible items and the tax deduction maximizer, go to Turbo Tax Online. Once you're there you'll find lot's of up-to-date tax information and handy tax tools for saving money on your Federal and State tax returns.