Deductions

10 deductions & credits people leave on the table.

Software only finds what you think to enter. These are the items we most often see missed — each with a plain-English note on who qualifies.

  1. Student loan interest — up to $2,500 of interest is deductible even if you don't itemize (income limits apply).
  2. HSA contributions — contributions you made outside payroll are deductible; many people only count the payroll ones.
  3. Educator expenses — teachers can deduct up to $300 of out-of-pocket classroom supplies without itemizing.
  4. Self-employed health insurance — premiums for you and your family can be deductible if you're self-employed and not eligible for an employer plan.
  5. Home office — a real deduction for the self-employed who use space regularly and exclusively for business. (W-2 employees generally can't claim it under current law, even when working from home.)
  6. Half of self-employment tax — the employer-equivalent portion is deductible automatically, but it's missed when returns are self-prepared from scratch.
  7. Charitable out-of-pocket costs — if you itemize: supplies you bought for church or charity events and 14¢/mile driven for volunteer work all count, not just cash gifts.
  8. State sales tax election — itemizers can deduct state sales tax instead of state income tax when that's larger — worth checking in a big-purchase year (vehicle, equipment).
  9. Child & Dependent Care Credit — daycare, after-school care, and day camps for kids under 13 can qualify while you work.
  10. The Saver's Credit — moderate-income households can get a credit worth up to 50% of retirement contributions — on top of the deduction the contribution may already provide.

The pattern behind all ten

Almost every missed item comes from the same root cause: nobody asked the right question. A preparer who knows your full picture — family, farm, side income, church involvement, retirement savings — knows which questions to ask. That's the value of a conversation over a questionnaire.

Wonder what you've been missing?

Bring last year's return to a free consultation — a second set of eyes on a prior-year return is often where we find the most value.

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This page is general information, not tax advice. Eligibility rules, income limits, and dollar amounts change from year to year — confirm current-year figures at irs.gov or ask us about your specific situation.