You can avoid headaches at tax time by keeping track of your receipts and other records throughout the year.

In most cases, the IRS does not require you to keep records in any special manner. Generally speaking, however, you should keep any and all documents that may have an impact on your federal tax return:

  • Bills
  • Credit card and other receipts
  • Invoices
  • Mileage logs
  • Canceled, imaged or substitute checks or any other proof of payment
  • Any other records to support deductions or credits you claim on your return.

Good record-keeping throughout the year saves you time and effort at tax time. The records you have kept will assist us to quickly and accurately complete your return.

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25 of the most overlooked tax deductions:

  • 1. Medical transportation expenses including tolls, parking, and 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, and orthopedic shoes
  • 4. Hearing aids, eye glasses, and contact lenses
  • 5. Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays
  • 6. Part of the life-care fee paid to a retirement home designated for medical care
  • 7. Wages for nursing services
  • 8. Education expenses you paid to maintain or improve job skills
  • 9. Professional journals, magazines, and newspapers that are job-related
  • 10. Cost of safe deposit box used for investments or business
  • 11. Required uniforms and work clothes not suitable for street wear
  • 12. Union dues
  • 13. Job-seeking expenses within your present field of employment
  • 14. Dues to professional organizations
  • 15. Business gifts up to $25 per customer or client
  • 16. Business expenses including travel, meals, lodging, and entertainment not reimbursed by your employer
  • 17. Tools for use at your job
  • 18. Cellular phones required for business
  • 19. Self-employed health insurance premiums
  • 20. Commission to brokers or agents for the sale of property or property management
  • 21. Worthless stock or securities
  • 22. Fees for tax preparation or advice
  • 23. Services of a housekeeper, maid, or cook needed to run your home for the benefit of a qualifying dependent while you work
  • 24. Taxes paid to a foreign government
  • 25. Mileage incurred in performing charitable activities