Tax Tips of the Week: January 28, 2013

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by Fox Charlotte

Story Created: Jan 28, 2013 at 10:06 AM EDT

Story Updated: Jan 28, 2013 at 10:06 AM EDT

Perry Webb, President of Charlotte accounting firm, Webtax, and an enrolled agent licensed to practice before the Internal Revenue Service and a Registered Tax Return Preparer, offers answers to the most frequently asked questions for the tax season.

Q. WHAT ARE SOME FREQUENTLY MISSED TAX DEDUCTIONS?

A. Missed deductions can be costly! Here are five frequently missed tax deductions:
1. Student Loan Interest, Tuition and Fees
2. Military Reservists Travel Expense (if travel over 100 miles and spend the night)
3. Travel expense for medical to and from all health procedures to receive medical care
4. Health care premiums/long term care insurance
5. Medical expenses for family with Alzheimer’s/other chronic illness. The tax break can go to the person or the family member who assumes the financial burden of the care.

Also, remember that the IRS will begin processing individual income tax returns on Wednesday, Jan. 30.

Webtax is a tax specialist and accounting company with 13 offices in and around the Charlotte area. Webtax is family owned and operated, providing the same great service today  as  they did when they opened their doors over 50 years ago. To learn more visit http://prep.1040.com/webtax or call 704-568-6421. 
 
 

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