SANTOS ASSOCIATES
ACCOUNTING, TAX & FINANCIAL PLANNING
SINCE 1961
TAX TIP
Extra driving for your job,
business or rental can add
valuable deductions to
your tax return.
For 2007, we may claim
48.5 cents for each
deductible mile. The tax
tables are in $50
increments. At this rate
every 103 miles you
deduct lowers your taxes
by another step.


Not every item will be applicable
to your situation.

Medical-related Overlooked Tax Deductions
1) Medical transportation expenses including
tolls, parking & mileage for trips to health
facilities, doctor's offices, laboratories, etc.
2) Nursing home expenses that are primarily for medical care.
3) Medical aids such as crutches, canes, & orthopedic shoes.
4) Hearing aids, eye glasses, & contact lenses.
5) Hospital fees for services such as nursing, physical therapy, lab tests, & x-rays.
6) Equipment for disabled or handicapped individuals.
7) Part of the life-care fee paid to a retirement home designated for medical care.
8) The cost of alcohol & drug abuse programs, & certain smoking-cessation
treatments.
9) Wages for nursing services.
10) Education expenses you paid to maintain or improve job skills.
Job-related Overlooked Tax Deductions
11) A handicapped individual’s work-related expenses.
12) Professional journals, magazines & newspapers that are job-related.
13) Cost of safe deposit box used for investments or business.
14) Seeing eye dogs for the handicapped or guard dogs for a business.
15) Required uniforms & work clothes not suitable for street wear.
16) Union dues.
17) Employment agency fees or commissions in certain cases.
18) Home office expenses, if for your primary place of business.
19) Job-seeking expenses within your present field of employment.
20) Reservist & National Guard overnight travel expenses.
21) Dues to professional organizations.
22) Business gifts up to $25 per customer or client.
23) Business expenses including travel, meals, lodging & entertainment not
reimbursed by your employer.
24) Cleaning & laundering services while traveling for business.
25) Tools for use at your job. 26) Cellular phones required for business.
27) Half of the self-employment tax paid.
28) Self-employed health insurance premiums.
Property-related Overlooked Tax Deductions
29) Commission to brokers or agents for the sale of property or property
management.
30) Your moving expenses.
31) Personal property taxes on cars, boats, etc.
32) General casualty & theft losses in excess of $100 & totaling more than 10% of
adjusted gross income.
Miscellaneous Overlooked Tax Deductions
33) Student loan interest.
34) Special school costs for mentally or physically handicapped individuals.
35) Worthless stock or security.
36) Fees for tax preparation or advice.
37) Legal fees to collect taxable alimony or Social Security.
38) Hobby expenses to the extent of hobby income.
39) Services of a housekeeper, maid or cook needed to run your home for the
benefit of a qualifying dependent while you work.
40) Penalty on early withdrawal of savings.
41) Alimony paid, but not child support.
42) State income taxes owed from a prior year and paid in the tax year
43) Fourth quarter estimated state taxes paid by December 31
44) Taxes paid to a foreign government
45) Mandatory contributions to state disability funds
46) Points paid on mortgage or refinancing
47) General sales tax deduction (including tax paid on large items such as cars or
boats) in lieu of the income tax deduction
48) Cash and non-cash contributions to a qualified charity
49) Mileage incurred in performing charitable activities
50) Gambling losses to the extent of your gambling winnings

Santos Associates, FEDERALLY AUTHORIZED TAX PRACTITIONERS,
can help you with your accounting, tax and financial planning needs. Call today for
an appointment & consultation. We are not attorneys, we can refer competent
council upon request.
TOP 50 OVER-
LOOKED TAX
DEDUCTIONS
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