Income tax tips and deductions
tax return information and income tax filing services.



Top 50 MOST Overlooked Deductions

Below is a list of the most common and easily overlooked tax deductions. Not every item will apply in your circumstances.
If you need further advice please contact my office at (503) 557-8228
The top 10:
1. Student loan interest.
2. One half of self-employment tax paid.
3. Adjustment on Form 1040 of health insurance premiums for some self-employed persons.
4. Penalty on early withdrawal of savings.
5. Alimony paid (not including child support).
6. Medical transportation - including tolls, parking, and the standard mileage deduction of 23.5 cents per mile for visiting doctors and dentists and picking up medicine.
7. Nursing home expenses that are primarily for medical care.
8. Medical aids such as crutches, canes, and orthopedic shoes.
9. Hearing aids, eye glasses, and contact lenses.
10. Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays.

Benjamin Franklin
Benjamin Franklin, on November 13, 1789, wrote the following to Jean-Baptiste Leroy: “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.”


TAX facts

In the UK, everyone under the age of 75 pays TV license fees.
 The fees are £126.50 for color TVs and £42.00 for black and white TVs. If you are legally blind, you only owe half that fee.

and all the rest:
11. Equipment for disabled or handicapped individuals.
12. Part of life-care fee paid to retirement home designated for medical care.
13. The cost of alcohol, drug abuse, and certain stop-smoking treatment.
14. Special school costs for mentally or physically handicapped individuals.
15. Wages for nursing service.
16. State income taxes owed from a prior year and paid in the current tax year.
17. Payment by December 31 of last quarter estimated state and local taxes.
18. Personal property taxes on cars, boats, etc.19. Taxes paid to a foreign government.
20. Mandatory contributions to state disability funds.
21. Points paid on mortgage or refinancing.
22. Property donated to a recognized charity.
23. Cash contributions to a recognized charity.
24. Mileage incurred in relation to charitable activities at 14 cents per mile.
25. Casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income.
26. Education expenses paid to maintain or improve job skills.
27. A handicapped individual's work-related expenses.
28. Professional journals, magazines, and newspapers that are job-related.
29. Cost of safe deposit box used for investments or business.
30. Seeing eye dog or guard dog for business.
31. Required uniforms and work clothes not suitable for streetwear.
32. Union dues.
33. Employment agency fees or commissions.
34. Home office expenses, if primary place of business.
35. Job-seeking expenses within present field of employment.
36. New business start-up costs.
37. Dues to professional organizations.
38. Business gifts up to $25 per customer or client.
39. Employment-related moving expenses.
40. Business expenses including travel, meals, lodging, and entertainment not reimbursed by your employer.
41. Cleaning and laundering services while traveling for business.
42. Tools bought for use at your job.
43. Cellular phones required for business.
44. Worthless stock or securities.
45. Commission to brokers or agents for sale of property or property management.
46. Fees for tax preparation or advice.
47. Legal fees to collect taxable alimony.
48. Support of a non-dependent student living with you.
49. Services of a housekeeper, maid, or cook needed to run your home for the benefit of a qualifying dependent while you work.
50. Gambling losses to the extent of winnings.

     Clackamas Bookkeeping is an Oregon based firm offering services in Oregon and Washington. My name is Wade Jacque and I am the owner/operator of the business. I have spent 13 years in the banking industry and I have over 12 years of experience working with small businesses. At Clackamas Bookkeeping we believe in delivering quality income tax preparation, accounting, bookkeeping and payroll services that will result in the best solutions for our clients. Please contact me personally with any questions and thanks for visiting our website.


10734 SE Hwy. 212 Suite 10734 Clackamas, Oregon 97015  -  Ph. 503.557.8228  -  E-Mail


Copyright 2012 Clackamas Bookkeeping, LLC. All rights reserved - Tax Consultant # 28869C - Oregon Business Registry # B14059