How do I claim deductions on my taxes?

How do I claim deductions on my taxes?

To claim deductions, you need to itemize your expenses on your tax return. What specific deductions are you interested in?

I'm not sure. What are some common deductions I can claim?

Common deductions include mortgage interest, student loan interest, medical expenses, and charitable contributions. Do any of these apply to you?

Yes, I have some medical expenses. How do I calculate those?

You can calculate your medical expenses by adding up all qualifying expenses and then subtracting any reimbursements. You can only deduct the amount that exceeds 7.5% of your adjusted gross income.

Got it! What if I have business expenses?

For business expenses, you can deduct costs related to running your business, such as supplies, travel, and home office expenses. Make sure to keep detailed records!