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If you’re looking for a new nine-to-five, you can deduct any job-hunting expenses--including that fancy watermarked résumé paper. (Same goes for travel expenses associated with interviewing.)
You already know you can get a deduction for the Hillary-ready pantsuit you donated to Dress for Success. But the same goes for any out-of-pocket expenses you incur while doing work for a nonprofit or charity, even if it’s just making brownies for the school bake sale.
Mortgage Points on a Refinance
Refinancing a mortgage is a wonderful thing. Not only does it land you a lower interest rate, but if you paid any points during closing, you can deduct that amount on your taxes. One caveat: The IRS requires you to take this deduction over the entire length of your loan. So if you have a 30-year mortgage, you can only take 1/30th of it this year.
Whether you added insulation to your drafty Tudor or put in a solar hot water heater to save money (and the planet), you can take a deduction for various eco-friendly home improvements. Just note that you can deduct only 10 percent of the total cost, with a maximum of $500.
Pens, Staplers and Post-it Notes
Maybe you’re a classic Bic gal. Maybe you go for the fine-point pink Sharpie. Regardless, if you’re self-employed, you can claim office supplies as a tax deduction. (Hurrah for being your own boss!)
Safety Deposit Box Rental
Rent a safety deposit box? If you use it for investment documents like savings bonds or stock certificates, you can totally deduct the cost of the rental. Not so much if you use it to store jewels and stolen treasure, however.
You’re union and proud of it, so don’t overlook reporting those annual dues on your 2013 returns. Any membership fees associated with a professional organization (American Medical Association, Actors’ Equity, etc.) are eligible for deduction.
While we may be looking forward to alfresco dining, floral sundresses and pastel pedicures that actually see the light of day, not everything about spring’s arrival is super fabulous.
On April 15, the tax man cometh.
To reduce the hurt, we scoured the tax code--all 70,000 pages of it--to find the sneaky deductions you probably didn’t know you could take.
Click here to see some of the most surprising tax-deductible items--from baking ingredients to ballpoint pens.
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