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Tax Deductions You May Not Know About

A Mazzo Accounting services is a Kenhorst small business that provides accounting services, bookkeeping services, and payroll services to individuals and businesses in Wyomissing, West Reading, and Sinking Springs PA.

Tax time is here and your deductibles can save you some money. Everybody makes mistakes, so overlooking a deductible is a possibility. In order to help you remember, here are some tax deductions to keep in mind while you file your taxes.

Jury duty – If your employer paid you while you served jury duty, then asked for the money to be returned, that can be deducted.

Union dues – All union dues, no matter how they are paid, are deductible.

Work requirements – If your employer requires you to keep up with your education, it can be deducted because furthering an education is considered necessary to maintain your skills. Also if your employer requires you to wear a specific attire that you must pay for, the clothing can be deducted because it is an expense required for employment.

Selling a home – Certain closing costs count as tax deductions, particularly interest; mortgage points, and real estate taxes can also be deducted.

Phone usage – If you use a phone for your self-employed business, it can be deducted once you estimate how much time the phone is used for business.

Out of pocket charity – Some expenses involved with charity work can be deductible, such as mileage.

Student Loans – Interest from student loans is deductible.

Unfortunate circumstances – If your property is damaged, destroyed, or stolen, there are some circumstances where this loss can be considered deductible but precise calculations are needed.

Utilizing the tax deductions, you may be able to save some money after your taxes are all done. Contact us now and let us help you handle your taxes!

A Mazzo Accounting provides a variety of accounting services to individuals and businesses in the Wyomissing, Reading, West Reading, Sinking Spring and Kenhorst areas as well as towns and villages around the Greater Reading area. Our services for small to mid-size businesses include taxes, payroll, accounting and bookkeeping services. We also provide a variety of services for individuals and they include tax return preparation as well as some accounting assistance.

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