The last date of filing tax returns is 18th April, 2011. So, most of the taxpayers are busy in filing their tax returns these days. If you are also busy in preparing your tax returns, then it is important to know about the ways to lower your tax burden. You can do this by itemizing tax deductions. You may think that you are well acquainted with all the tax deductions. But it may not be true. There are some unforeseen tax deductions which most filers are not aware of. Glance through the article to gather knowledge on 5 unforeseen and unexpected tax deductions you may get this year and save substantial amount of money.
5 Surprising tax deductions you can get
Here are the 5 unforeseen tax deductions you may get this year:
1. Consulting Christian Science Practitioner: You can claim tax deductions on your expenses incurred due to your medical treatment. If you don't believe in conventional medical treatment and consult a Christian Science Practitioner, then you get tax deduction on the treatment cost. It is well known to everybody that the Christian Practitioners believe in curing patients through prayer. So, a lot of people don't feel that this expense should come under the category of medical treatment. Nonetheless, IRS regards this as medical expense and you claim deduction on it.
2. Purchase food for dog: If you purchase food for a service dog, then you can claim tax deduction for it. However, you won't get any deduction simply for buying a dog. You'll be eligible for deduction for feeding and training a guard dog.
3. Losing your weight: Are you obese and have enrolled in a weight-loss program as per your doctor's instruction? If you are going through a physical training program to lose your weight following your physician's prescription, then you can include the expenses into the category of the medical expenditure and get tax deductions on it. In case you have gone through a surgery for losing weight, then also you can be eligible for tax deductions. However, one important thing to note is that you can't claim deductions on the cost of the diet you take to stay healthy.
4. Building your own pool: Have you suffered physical injuries recently? Have your physician suggested you to swim regularly to become fit again? If yes and you have built a swimming pool in your house to swim every day, then it can help you lower your tax burden. You can get tax deduction for the expenses you have incurred due to building swimming pool. However, IRS may call your doctor to check whether or not he/she has really prescribed you to take laps every day. The doctor may also be required to justify his/her decision. So, getting this tax deduction will not be an easy task.
5. Purchasing your uniform: If you have purchased an uniform for your office, then you can get tax deduction on that. If you the cost of the office uniform is more than 2.5% of your gross income, then you will qualify for a tax deduction. But this does not mean that you can get a tax deduction for purchasing an expensive suit. This is because it is not an uniform.
Apart from the above mentioned points, you can also get tax deduction if you donate money to charitable organizations in the neighboring countries such as Mexico, Israel, Canada, etc. However, you can take advantage of this deduction only when you have some income sources in these countries.