10 Tax Deductions You Might Be Missing

Maximize Your Refund with These Overlooked Tax Breaks

When it comes to taxes, most people are overpaying without even realizing it. Every year, thousands of taxpayers leave money on the table because they miss out on deductions that could significantly lower their taxable income or boost their refund.

Whether you’re a W-2 employee, freelancer, or small business owner, the key to getting the biggest refund possible is understanding the deductions you qualify for.

1. Out-of-Pocket Medical Expenses

If your unreimbursed medical expenses exceed 7.5% of your adjusted gross income, they could be deductible. This includes prescriptions, doctor visits, dental care, and even mileage to appointments.

2. Student Loan Interest

Even if you don’t itemize, you could still deduct up to $2,500 in student loan interest—assuming your income falls within the IRS limits.

3. Educator Expenses

Teachers and eligible educators can deduct up to $300 (or $600 if married filing jointly and both spouses qualify) for classroom supplies—without itemizing.

4. Home Office Deduction

If you use part of your home exclusively for business, you may qualify to deduct a portion of your rent, utilities, internet, and even repairs.

5. Self-Employment Expenses

Business owners can deduct everything from marketing costs to professional software, travel, phone bills, and more. Even meals (up to 50%) are deductible if business-related.

6. Charitable Contributions

Donated goods, cash, mileage to volunteer events, and even time spent organizing charitable work can all be tax deductible—just keep solid records.

7. Mileage

If you use your vehicle for work (not commuting), those miles are deductible at the IRS standard mileage rate. This is especially useful for freelancers, real estate agents, and gig workers.

8. State Sales Tax (if itemizing)

If you live in a state with no income tax, you can choose to deduct state and local sales tax instead—ideal for big-ticket purchases like cars or home renovations.

9. Job Hunting Costs

Expenses like resume prep, career coaching, and travel for interviews in your current industry may be deductible, especially if you’re itemizing.

10. Retirement Contributions

Contributions to a traditional IRA or self-employed retirement plans like a SEP IRA or Solo 401(k) can lower your taxable income.

Bonus Tip: The IRS Isn’t Going to Remind You

The IRS won’t call you up to say, “Hey, you forgot a deduction.” That’s your tax pro’s job. And if you’re DIYing, it’s up to you to know what applies.

Don’t Leave Money on the Table

The difference between an average refund and a BIG refund is often strategy—not income. Make sure you're working with someone who knows how to uncover the deductions that apply to your life and business.