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Jen's tax tips: Often overlooked deductions

NEED TO KNOW
  • Don't cheat yourself out of deductions you deserve
  • Donated clothing, job-hunting expenses
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Maybe you're doing your taxes this week (or thinking about it). There might be deductions you haven't even thought about that could save you money.

If you take the standard deduction to just 'get it over with,' you may be cheating yourself out of your hard-earned money.

There's a strong chance you have enough deductions to itemize, though it does mean squirreling away receipts all year.

Some popular deductions people forget:

  • Giving away clothes to charity -- but make sure you get a receipt.
  • Looking for a job - something so many people have been doing.
  • And if you have a job, you can deduct union dues and anything you need to buy to perform your job.

Visit the IRS Deductions FAQ for info on other overlooked and misunderstood deductions.

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