As unemployment and the economy continue to loom over America, you may be tempted to cheat on your taxes since what you owe seems like too much to pay. This is never a good idea. With penalties, fees, interest, and in extreme cases, jail time as possible consequences, cheating on taxes is simply not worth it. If you do have issues with paying and need tax settlement help, consulting a professional on a legally maximizing your deductions or setting up payment plan is a far safer option.
Here are 5 common tax deduction cheats that the IRS looks for:
Commuting Costs associates with going to and from work can never be deducted, even if your workplace is hours away. The burden of an expensive commute lies solely on you, because it is non-deductible expense.
Volunteering While donated goods and cash can be deducted, the services you have donated cannot. This applies even if you can calculate the value of the service. However, if costs are incurred while you are volunteering, those can be deducted.
Pets Since pets are not considered dependents, personal pet costs including food, medical bills, and grooming are not tax deductible.
Remodeling Your home improvements are considered personal expenses. You cannot claim them as tax deductions.
Gym membership Unless you have a diagnosed medical condition that causes your doctor to specifically prescribe a gym or health club membership, your membership cannot be deducted. The difference is that the first is a medical deduction, and the second is just beneficial.
If you want to avoid mistakes on your tax return and receive the deductions that you qualify for, our experienced tax settlement professionals can help. We can also work with you if you have filed your taxes and cannot afford to pay in full. Please visit professionaltaxresolution.com for more information on our tax resolution services. You may also call us at (877) 889-6527 or email info@protaxres.com to receive a free, no obligation consultation.
