Here's 5 quirky tax deductions you may not know about
If you are looking for a way to lower your taxes and have already worked your way through well-known deductions such as child-care expenses and property taxes, it may pay to think outside the box.
"If you are close and you weren't aware of any of these deductions, you could possibly push yourself over the standard deduction and be able to take itemized deductions and possibly more of them," said Lisa Greene-Lewis, a CPA and tax expert with TurboTax.You have not taken these steps, and that's why you're brokeThe higher standard deduction, along with the cap or elimination of some deductions, means more people will forgo itemizing.
While you can't just deduct most wedding costs, there are some related expenses that could qualify — if you hit certain criteria. For example, if you hold your wedding at a registered historical location, you can deduct the price you paid to the site. The federal credit is mainly for commercial properties, but depending on where you live, you may be able to get a state historic tax credit. Details vary, but 23 states provide tax credit for owner-occupied homes, according to the National Trust for Historic Preservation.
"You have to keep excellent records — where you went, what you were doing, who you were assisting, and so on and so forth," Perlman said.If you have a medical condition such as heart disease or diabetes and your doctor prescribes a lap band or a weight-loss program, you may be able to claim a medical deduction, Greene-Lewis said.
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