10 Overlooked Tax Breaks

The goal of every taxpayer is to make sure the IRS gets as little as possible. For that to happen, you need to take every tax deduction, credit or other income adjustment you can.

Here are 10 tax breaks -- some for itemizers only, others that any filer can claim --  that often get overlooked but that could save you some  tax dollars.


1. Additional charitable gifts
Everyone remembers to count the monetary gifts they make to  their favorite charities. But expenses incurred while doing charitable work  often aren't counted on tax
returns.

You can't deduct the  value of your time spent volunteering, but if you buy supplies for a group, the  cost of that material is deductible. Similarly, if you wear a uniform in doing  your good deeds, for example as a hospital volunteer or youth group leader, the  costs of that apparel and any cleaning bills also can be counted as charitable  donations. 

Read more: 10 overlooked tax
breaks

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MCB Tax and Financial Services offers tax preparation, accounting, bookkeeping, daily money management, real estate, recruiting, and payroll services in New York City. Call  347-464-9153 or visit mcbtax.com.