Tax season can feel overwhelming, but missing valuable deductions can mean leaving money on the table. Many taxpayers default to the standard deduction because it's simple, but itemizing (or using new IRS deduction rules) may help you save more than you think. Recent legislation has expanded deductions for tips, overtime, vehicle loan interest, and senior taxpayers—all worth reviewing as you prepare your return.
As your trusted credit union, we’re here to make understanding taxes a little easier. Below are some commonly missed deductions that could reduce your taxable income and increase your refund.