Commonly overlooked tax deductions

KNOXVILLE, Tenn. (WVLT)-- About 25% of Americans overpay on their taxes every year but with a look at these deductions you might save a few bucks.

State sales taxes- If you bought a vehicle, boat, or airplane last year then you can add the state sales tax you paid to the amount you paid.

Out-of-pocket charitable contributions- this includes small things like stamps for a school fundraiser. Also, if you drove your personal car for a charity then you can deduct 14 cent per mile.

Student loan interest- where you can deduct up to $2,500

Child care credit- which will reduce your tax bill dollar for dollar

Earned Income Tax Credit (EITC)- created for low to moderate income workers. The refundable tax credit depends on your income, marital status and family size.

Those are just a few deductions you might want to look into further. There are some helpful links at the bottom of the page to get you all your tax deductions and credits you deserve.


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