If you are anything like me, hearing the word “taxes” makes you cringe. Whether it’s taxes you pay when buying something new, taxes that are taken out from your check, or the taxes that are due when April rolls around, none of it is fun to look at. Obviously, I understand why we pay taxes and where our taxes dollars go to (whether I agree with it or not), but taxes are never fun, especially when you are in your early twenties, still trying to get your career started. Most recently, I discovered how harsh New York taxes can be on your paycheck as I’ve recently moved to the city to start a new job. Insidermonkey experts made a list of 16 easiest tax deductions and credits to claim on your return.
We have picked two ways from the list for now. The first one is Charitable donations. Most of us don’t know that donations made to charity can be claimed on our returns. What’s even better is we can also do the same thing to itemized donations. If you usually donate, you should always make sure to have a receipt from the charity, which states the value of your donations to ensure your claim. Second one is States sales taxes. This one is a little specific to where you live since it only applies to individuals living in tax-free states. To know how much you are allowed to deduct, you can refer to the table provided for tax-free states. You can also check 10 Countries with the Lowest Tax Rates.
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