The following guest post and infographic comes from Jordan.
It is estimated that there are millions of people who pay more tax than they should simply because they overlook tax benefits that could apply to them. Come tax day, you could be a happier person just by taking advantage of a few not so well-known tax benefits listed on the infographic below. Because at the end of the year, who doesn’t want to be pleasantly surprised with a little extra cash to splurge?
There are more! Are you a member of the National Guard or even the military reserve? Whenever you travel for drills or meetings keep a track of your traveling expense if it’s more than 100 miles away from your home and it involves an overnight stay. You can deduct the cost of your hotel, 50 percent of the cost of your meals and gas if you’re driving your own car to get there. And if you’re thinking of going back to school this year, don’t forget to take advantage of the Lifetime Learning Credit. This can be applied to a vocational school or community college even when you have retired!
Happiness is … making full use of tax benefits that apply to you!
References: MSN Money, 1800Accountant.com, Investors.com, Dolans.com
About the author: Jordan is a 28 year old entrepreneur and a former Business Developer. With an insatiable appetite for the good life, keeps himself current on topics related to technology, gaming and his first love, food. He shares his views on his blog hoping to provide valuable information to entrepreneurs like himself who wish to establish a successful business.
Remember to consult with your tax preparer to find out what deductions fit your personal situation.