Introduction
Tax season often feels like a rush — gathering receipts, checking forms, and hoping for the best refund. Yet every year, countless Brooklyn residents overpay simply because they overlook deductions they’re fully entitled to claim.
In this guide, we’ll highlight 10 commonly missed tax deductions that can make a noticeable difference in your refund.
1. State and Local Sales Taxes
Most taxpayers remember to deduct income taxes but forget sales taxes. If you made large purchases — like a car or home improvement materials — these can add up quickly.
2. Student Loan Interest
If you’re repaying student loans, you can deduct up to $2,500 of interest — even if you don’t itemize deductions. Many young professionals miss this.
3. Medical and Dental Expenses
Out-of-pocket medical costs above 7.5% of your adjusted gross income are deductible. That includes prescriptions, treatments, and some travel for medical appointments.
4. Charitable Contributions (Even Small Ones)
Every charitable donation counts. Keep records for cash, clothes, or goods donated to recognized organizations — even small amounts make an impact.
5. Home Office Deduction
If you work from home, you might qualify to deduct part of your rent, utilities, and internet costs. The key is regular and exclusive use of your workspace.
6. Job Search Expenses
Looking for a new job in your current field? Some related expenses like résumé printing, travel, and employment agency fees may be deductible.
7. Education and Course Expenses
Continuing education or professional development courses related to your career may qualify as deductible under the Lifetime Learning Credit.
8. Self-Employment Costs
Freelancers can deduct business-related expenses — from software and office supplies to part of their phone bill. This is one area where working with a CPA truly pays off.
9. Energy Efficiency Improvements
If you’ve installed energy-efficient windows, doors, or HVAC systems, you may qualify for residential energy credits.
10. Retirement Contributions
Contributions to a traditional IRA or 401(k) can lower taxable income while building your future. Many filers forget these are still valid up to tax day.
Final Thoughts
Small deductions add up fast. A professional CPA ensures none of these are missed and helps you stay compliant while maximizing your return.
Looking for help this tax season?
👉 Book a consultation with Mendel Bekhor, CPA, and discover how much more you could save.