Getting the most out of your tax refund can be a little confusing at points. With the long list of deductions the IRS provides, it’s time consuming finding those ones that could apply to you. Here is a list of possible deductions you can make that may surprise you:
- You can deduct medical expenses that exceed 7.5% of your adjusted gross income. This can also apply to quitting smoking and deducting expenses for smoking cessation programs such as nicotine patches
- Out of pocket car expenses when using a car for medical reasons, including parking, tolls, and fuel
- Cost of meals at a hospital if the principal reason of you being there is to get medical care
- If you have moved because of a new job, you may be entitled to a moving expense deduction if you meet the distance guideline stated by the IRS. This even includes expenses for moving your pet too as it is considered a possession
- If the weather in Denver has negatively affected you this year, you may be entitled to a casualty-loss deduction on your loss
- The cost of pregnancy test kits are also deductible and is specifically listed in the tax code
- Transportation to donating an organ: An organ donor can deduct both the medical expenses as well as travel expenses associated with the donation
- Lead based paint removal. If you have lead paint in poor repair in a house that is in reach of a child, the removal is tax deductible. However, make sure you don’t classify this as a medical expense
- Regular physical examinations and diagnosis. You do not have to be ill at the time of the appointment.
Consult your Denver tax service to ensure you maximize the refund of your hard earned money.