You thought deductions were just for businesses?

Tax season is around the corner, and what better way to ring it in than to give you some pointers on ways you might be able to reduce your bill?

While businesses have the advantage of being able to write off things like equipment, food, and whatever else, individuals have a lot fewer opportunities.

So take notes – if you fall into any of these groups, you might be able to benefit when you file.

• Own a house? Homeowners have the advantage of being able to deduct interest from their loans (varies depending on when your home was purchased). They can also deduct up to $10,000 per household in property taxes. 
• Got a home office? If a part of your home is used for business purposes, you can potentially deduct a percentage of your home costs (like utilities and internet) related to your work.
• Selling your home? You may be able to claim your selling costs as a tax deduction (this could include legal fees, administrative costs, inspection fees, and more).

It’s also worth noting that, in some circumstances, it may be possible to claim medical expenses.

There’s a whole world of potential deductions that can help make tax season sting just a little bit less.

Taxes are complex (intentionally), and it’s up to you to determine how to lower your tax bill this year and every year.

This point will become more and more important as you head towards retirement.

The good news is I’m here to help you through and create a plan to get the most out of tax season.

Remember, you might have to pay Uncle Sam, but you don’t have to leave him a tip.

To get started, book a 15-minute consultation and chat about your plan (where you are now, and where you want to be in the future), it’s easy – just click the buttons below.