Tax Deduction Tracker

Tax Deduction Tips

• Keep receipts and documentation for all deductible expenses
• Business expenses must be ordinary and necessary for your trade
• Medical expenses are deductible if they exceed 7.5% of your AGI
• Charitable contributions must be to qualified organizations
• Home office deductions require exclusive business use
• Vehicle expenses can be calculated using standard mileage or actual costs
• Consult a tax professional for personalized advice