Deductions You may Overlook

Every year our clients are amazed by what is deductable and nothing is better than their smiling when they realize they may be saving money.  Review this generous list of commonly overlooked deductions and contact our Yonker accounting office today to learn how you can put your deductions to work for you...914-237-1725

  • Student loan interest
  • One-half of self-employment tax paid
  • Adjustment on Form 1040 of health insurance premiums for some self-employed persons
  • Penalty on early withdrawal of savings
  • Alimony paid (does not include child support)
  • Medical transportation - including tolls, parking, and mileage for visiting doctors and dentists and picking up medicine
  • Nursing home expenses that are primarily for medical care
  • Medical aids such as crutches, canes, and orthopedic shoes
  • Hearing aids, eye glasses, and contact lenses
  • Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays

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