Because you deserve a bigger tax refund

Regardless if your tax returns are usually easy, or if you have to learn calculus to get through them, there are tricks and tips for everyone to make things better. You won’t need online loans to get them, and you won’t need to get tax refund loans either. You’d be better off with online loans.

The following are the Top 10 tax deductions that go overlooked by taxpayers

Thanks to a recent WalletPop article, everyday consumers like you and me can get a bigger tax refund. Here are some highlights from a post by Ken and Daria Dolan that I would recommend highly. Just remember that I’m not a professional tax adviser. Questions should go to a tax professional.

1. Mind the mileage – The IRS says taxpayers can deduct miles “primarily for, and essential to” medical care at 24 cents per mile. People who need to travel for regular treatments can benefit greatly. You can also deduct for miles driven for charity work at 14 cents per mile.
2. Property taxes don’t need to be itemized – According to the Dolans, a 2008 law lets you up your standard deduction by the amount of property tax you pay ($ 500 max, or $ 1,000 on a joint return).
3. Excise tax for a new car – Did you buy a car between February 17 and December 31, 2009? The Dolans say “you can deduct the sales and excise taxes that you paid up to a maximum purchase price of $ 49,500.” It doesn’t have to be itemized!
4. Springing forward? Fall back! - if you had filed a state income tax return in spring because you owed money in 2008, that can count towards your 2009 return.
5. Environmental credits – Yes, I mean going green. Heating and cooling products – as well as other energy-saving home improvements – can save you green. Saving 30 percent on up to $ 1,500 worth of improvements is worth your time!
6. Sell a home in 2009? - Deductions for closing costs and sales, real estate agent commissions and for legal fees are available.
7. PMI deductions – New laws now make private mortgage insurance payments deductible, but only through your 2010 return. Check this out with a tax professional before it’s gone!
8. Know thy deductions, Investors – Investment-related expenses like investment publications, financial advisor fees, mileage to go see a broker and more are available for deduction. In a similar vein, certain tax preparation expenses are deductible.
9. Were you unemployed in 2009? – The American Recovery and Reinvestment Act “made the first $ 2,400 you receive in unemployment benefits tax free,” write the Dolans. Expenses incurred searching for a job are deductible if you searched for a job in the same sector. This can mean ads, agency fees, postage, travel, phone calls, and so on. If it adds up to over two percent of adjusted gross income, it’s in bounds, according to the Dolans.
10. Expenses for child care – This credit includes daycare, nannies and more. The credit reaches as high as $ 3,000 for one child, $ 6,000 for two or more. They just have to be under 13 years old.

Remember – CONSULT WITH YOUR TAX PROFESSIONAL if you have questions!

You might also steer clear of tax refund loans and consider online loans if you’re in a crunch. That’s about it.