Irs Mortgage Insurance Deduction

4 Tax Deductions Not to Miss (inc)

Re-examining your records in the 11th hour could be worth your while. Here’s
where to start.

2011 might be over but adding or maximizing several underutilized deductions
could still increase your 2011 profits. Most business owners are too busy to
sit down and sort receipts but re-examining your records before April 17 could
be worth your while. Here are four tax deductions you don’t want to miss:

Travel** **

If you were required to travel away from home for business in 2011 to see a
client or go to a conference, unreimbursed travel expenses such as flight,
hotel, taxis, 50% of meals, and even tips are likely deductible. If you didn’t
keep receipts don’t worry, credit card statements are acceptable proof of
payment to the IRS.

For 2012, at a time when plane tickets and fuel prices continue to rise, a
business trip this year could be turned into a low-cost family vacation. If
the trip is primarily for business, a majority of the travel as well as
accommodations could be deductible.

Charitable Gifting

Many of our clients are charitably inclined and giving through their
businesses fulfills their philanthropic desires while allowing them to give
back to their community …

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Mortgage Insurance Deduction – Daily TaxQuips – TaxMama.com