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Federal Tax Deductions for Parents, Work, Home & School

Time to save on your taxes

What Is a Tax Deduction?

A tax deduction reduces your taxable income. Your total deductions are subtracted from your taxable income in order to determine your total tax bill for the year. Tax credits are similar to tax deductions, but they reduce your tax bill dollar for dollar. This page lists tax deductions you may qualify to claim on your tax return.

How to Qualify For Tax Deductions

In order to claim most tax deductions for the current Tax Year, the payments have to occur during the Tax Year or no later than December 31. 

What Are the Different Types of Tax Deductions?

Review these tax deductions based on life-changing events and other life situations: 

NOTE: There are specific nondeductible expenses that cannot be claimed on tax returns, such as home repairs and political contributions.

Tax deductions can be complicated, so let efile.com help you with your deductions if this information overwhelms you. We will determine which deductions are best for you based on your answers to a couple of easy tax questions. Then, we will calculate the deduction about for you. It's that simple! 

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Green Energy DeductionLife-Changing Events (Marriage, Divorce, New Job, etc.)

 

Parent Deduction Families and Parents

You can report the following deductions on your tax return if you are a parent or relative raising a child:

 

Home, Mortgage Deduction Homeowners

Homeowners can take advantage of these deductions:

 

Employee, Worker Deduction Employees and Self-Employed Workers

If you work, you may qualify to claim these deductions: 

 

Medical, Health Deduction Medical Expenses

You can deduct medical expenses such as hospital fees and services, medications, dental treatment, and eye appointment fees from your taxes as long as the total amount of your expenses is more than 7.5% of your income. Here are other expenses you can claim as deductions: 

 

Student, Educational Deduction Students and Teachers

Here are the deductions you can claim as a student or teacher: 

 

Miscellaneous, Other Deduction Charitable Donations

You can claim the following charitable expenses on your tax return: 

 

Seasonal Tax Deduction Standard and Itemized

You can claim one of the following tax deductions:

When you prepare your tax return on efile.com, we will determine which deduction is best for you based on your tax situation. 

 

Green Energy Deduction Car and Travel

You may qualify to claim of of these tax deductions related to your vehicle and traveling: 

 

Retirement, Retirement Savings Deduction Miscellaneous and Other

There are a number of other tax deductions that do not apply to any of the above categories:

More Information on Tax Breaks and Savings