In a world that often seems to be run by money, it sure seems hard to keep any of it for an extended period of time. Between repairs, loans, and endless taxes, catching a break can be pretty hard. Luckily, there are some breaks out there for those willing to look. Here is a list of the nine most common tax breaks that you might be missing out on.
1) Student Loan Interest
With the unbelievable amount of money it takes to pursue higher education for a shot at a better career, it is hard to see any benefits coming out of the loans. That being said, voluntary interest payments are now deductible. You can deduct up to $2500 yearly, even if you were to pay more than required. Also, you can now deduct interest for as long as you have the loan, not exclusively for the first sixty months as was the case in the past. Also, taking a college class long after graduating can lead to $2000 a year to be deducted from taxes, so long as it goes toward your career. Maybe you should consider taking that writing class now.
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