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by: ZachAllred
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Tax return preparation is very difficult for most people even if you are going to a trained professional like my self. Often deductions are missed simply because the taxpayer has not thought of them and the tax preparer has not asked. Here is a list of the most commonly missed tax deductible items.

1. Medical mileage deduction for 2008 is $.19 and it was $.20 per mile for 2007. The number of miles from home to doctor appointments and hospital appointments need to be included. When you start adding these up it is amazing how much it totals to.

2. Mortgage interest paid on a 2nd mortgage is often overlooked. If you have a motor home with a functioning kitchen and bathroom you are entitled to this often over looked tax deductible item.

3. Charitable donations are often overlooked since we do this out of the kindness of our hearts. But when it comes tax time sit down and figure these up. Include donations to Deseret Industries and vehicles donated to different foundations.

4. Moving expenses incurred for a job related move are a tax deductible item. There are certain tests to qualify for this deduction so be sure to consult your tax advisor. Deductions include transportation and storage of household goods. Travel including lodging from your old home to your new home is deductible.

5. The alimony deduction is often over looked because many people do not want to think about a painful divorce. The amount rewarded for child support is not deductible though.

6. Interest paid on student loans is deductible. Many times after graduation you take a new job and your address changes. The year end statement showing the amount of interest paid for the calendar year gets misplaced. Therefore, if you paid student loan interest or have a child that did do not pass this tax deductible item up.

7. State income taxes that are withheld on your W-2 are deductible. In addition, do not forget the amount of taxes paid to your state for a prior year filing.

8. Loans made to family and friends who have failed to repay you are deductible as worthless debts on Schedule D. You are limited to $3,000 per year until the full loss is taken. But if you have capital gains then the whole loss can be taken up to the amount of the capital gain plus $3,000.

9. Did you dabble in any kind of business on the side? Be sure to add up all the expenses and at least let your tax preparer know about your effort to enter the self employment arena so he can help you include all the deductions you entitled to.

10. When a family member moves into another home you own often you will forget to report it. The incentive to reporting is that this is a tax deductible item. You can usually create a loss to be reported on your 1040 when these deductions are properly accounted for.

About the Author

You can visit Zach Allred's web site for more articles relating to tax deductible items and tax structuring in addition to several home based business ideas. Visit the Uber Article Directory to get a totally unique version of this article for reprint.

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