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•  TOP 50 OVERLOOKED DEDUCTIONS

Ultimate Tax & Accounting Group, Inc. can help you find all of the credits and deductions you deserve, including those hard-to-find and commonly overlooked tax deductions. With our dedicated tax preparer, we make sure that you get the biggest refund you're entitled to.

This is a list of the top 50 most easily overlooked tax deductions. Not every item will be applicable to your situation. Consult your local Ultimate Tax & Accounting Group, Inc. Tax Service office for more advice.

Medical Related Overlooked Tax Deductions:

1. Medical transportation expenses including tolls, parking, and mileage for trips to health facilities, doctor's offices, laboratories, etc.
2. Nursing home expenses that are primarily for medical care
3. Medical aids such as crutches, canes, and orthopedic shoes
4. Hearing aids, eye glasses, and contact lenses
5. Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays
6. Equipment for disabled or handicapped individuals
7. Part of the life-care fee paid to a retirement home designated for medical care
8. The cost of alcohol and drug abuse programs, and certain smoking-cessation treatments
9. Wages for nursing services

Job-Related Overlooked Tax Deductions:

10. Education expenses you paid to maintain or improve job skills
11. A handicapped individual's work-related expenses
12. Professional journals, magazines, and newspapers that are job-related
13. Cost of safe deposit box used for investments or business
14. Seeing-eye dogs for the handicapped or guard dogs for a business
15. Required uniforms and work clothes not suitable for street wear
16. Union dues
17. Employment agency fees or commissions in certain cases
18. Home office expenses, if for your primary place of business
19. Job-seeking expenses within your present field of employment
20. Reservist and National Guard overnight travel expenses
21. Dues to professional organizations
22. Business gifts up to $25 per customer or client
23. Business expenses including travel, meals, lodging, and entertainment not reimbursed by your employer
24. Cleaning and laundering services while traveling for business
25. Tools for use at your job
26. Cellular phones required for business
27. Half of the self-employment tax paid
28. Self-employed health insurance premiums

Property Related Overlooked Tax Deductions:

29. Commission to brokers or agents for the sale of property or property management
30. Your moving expenses
31. Points paid on mortgage or refinancing
32. Personal property taxes on cars, boats, etc
33. General casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income

Miscellaneous Overlooked Tax Deductions

34. Student loan interest
35. Special school costs for mentally or physically handicapped individuals
36. Worthless stock or securities
37. Fees for tax preparation or advice
38. Legal fees to collect taxable alimony or Social Security
39. Hobby expenses to the extent of hobby income you included in gross income
40. Services of a housekeeper, maid, or cook needed to run your home for the benefit of a qualifying dependent while you work
41. Penalty on early withdrawal of savings
42. Alimony paid, but not child support
43. State income taxes owed from a prior year and paid in the tax year
44. Fourth quarter estimated state taxes paid by December 31
45. Taxes paid to a foreign government
46. Mandatory contributions to state disability funds 
47. General sales tax deduction (including tax paid on large items such as cars or boats) in lieu of the income tax deduction
48. Cash and non-cash contributions to a qualified charity
49. Mileage incurred in performing charitable activities
50. Gambling losses to the extent of your gambling winnings

Ultimate Tax & Accounting Group, Inc. professionals are available for your tax needs.  Please call your local Ultimate Tax & Accounting Group, Inc. office for further information.