Tag Archives: IRS

5 Overlooked Tax Deductions From Turbo Tax

Taxes

Taxes (Photo credit: Tax Credits)

According to the website Turbo Tax, there were over 51 million current tax payers who listed tax deductions over the year 2007. They claimed more than 1.33 trillion dollars in tax deductions. At the same time, more than 91 million people claimed the regular standard deduction. They managed to reduce their tax by 654 trillion dollars. These numbers look good for tax players who are doing standard deductions. However, you need to look at both methods of tax deduction when you are preparing to do you taxes. If you don’t, you may miss out … Read the rest