Did You Miss Some Of Your Eligible Tax Deductions? Here’s How To Get Them Back.

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Don't Leave Your Tax Deductions On The Table

Taxes are due on Thursday -- April 15 -- and if you're among the millions of Americans who wait until the last week to file, here's a video interview that could help you reduce your federal tax liability.

Heck, even if you've filed your taxes already, watch the video. You may realize you missed a deduction you could have claimed. If that's the case, file an amended return and recapture the credits you left on the table.

Most times, the benefits of re-filing will outweigh the costs of doing it.

Some Deductions You May Have Missed

Originally broadcast by NBC's The Today Show, the 4-minute video above reviews various tax credits and deductions, plus some recent tax law changes.

A few of the topics covered include:

Tax filers receiving larger "personal exemptions" in 2009 versus 2008
Unemployment income recipients paying taxes beyond the first $2,400 received
The "first time" home buyer credit extenstion to non-first time home buyers for up to $6,500

The interview also talks about how taking a parent, child or other family member into your home may change your tax filing status and reduce your tax liability.

How To File (Or Re-file) Your Returns

Tax law is always changing and you shouldn't try to prepare your 1040s on your own. Talk with your tax professional for personal tax advice, or use TurboTax's free federal filing online.

About the Author

Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator click to get a free, no-obligation rate quote.

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