Welcome to the wonderful world of itemization, or Schedule A.
Several things which will help:
1) If you have any credit cards, see if you can get a home equity line of credit that comes with a credit card, and transfer any and all balances to that. The interest on a home equity loan is tax deductable as well.
2) Keep track of all donations, whether in cash or check, or even bags of clothes, or donated funiture. All of that is tax deductable.
3) If you have someone prepare your taxes, or if you purchase tax preparation software, keep the receipt. The cost of preparation is deductable on the following year.
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branchandroot
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Date: 2007-03-02 04:14 pm (UTC)Several things which will help:
1) If you have any credit cards, see if you can get a home equity line of credit that comes with a credit card, and transfer any and all balances to that. The interest on a home equity loan is tax deductable as well.
2) Keep track of all donations, whether in cash or check, or even bags of clothes, or donated funiture. All of that is tax deductable.
3) If you have someone prepare your taxes, or if you purchase tax preparation software, keep the receipt. The cost of preparation is deductable on the following year.