Wednesday, April 9, 2008

Don't overlook these tax breaks



With just over a week to finish up our 2007 Form 1040s, all of us late-season filers are starting to get serious.



Many are in good shape, despite the late date. They have all the data and documentation they need; it's just a matter of entering the info and sending it to the IRS.



Others are a little less organized, but still plan to make the April 15 deadline.



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Regardless of which group you belong to, make sure you don't get in a hurry and miss out on a tax break or two. Here are 10 tax-saving moves that often are overlooked:



  1. Additional charitable gifts


  2. Moving expenses


  3. Job hunting costs


  4. Military personnel travel


  5. Child, and more, care credit


  6. Mortgage refi points


  7. Many medical costs


  8. Retirement tax savings


  9. Educational expenses


  10. Residential energy upgrades


Details on each of these can be found in this story I wrote for Bankrate.



Now, since I'm in the second category -- I know, I know. Do as I say, not as I do. -- I'm off to get my tax filing in better shape.



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