forgotten tax deductions

Everyone dreads the start of tax season. It doesn’t matter what industry you’re working in or how much money you’ve been making – filing your taxes can be a daunting process. That being said, the process is substantially less painful when you’re able to tally up a few big deductions.

When it comes to filing state or federal tax returns, far too many individuals make the grave mistake of assuming they aren’t eligible to claim expenses back. But the truth is, there are loads of forgotten tax deductions that can generate huge savings in the short-term. Play your cards right, and you could even claim your way to a big, fat IRS refund.

To help you get started, below are some of the most common forgotten tax deductions that small business owners forget to take advantage of.

Forgotten Tax Deductions

Sales and Income Tax

The biggest deductions that individuals typically forget to include in their annual returns are states sales tax and income tax. If you live in a state that imposes an

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Source: Small Business Trends