what can i claim tax back on

10 months ago 25
Nature

You can claim tax back on various expenses and activities through tax deductions and credits. Some common items for which taxpayers may claim a deduction if eligible include state and local sales taxes, state income taxes, out-of-pocket charitable contributions, student loan interest, and medical expenses. Additionally, you can claim deductions for personal and business theft losses, educator expenses, and even the installation cost of solar energy systems through the solar tax credit. Tax credits, such as the Earned Income Tax Credit, can substantially reduce the amount of tax due or even increase the amount of your tax refund. Its important to refer to IRS publications to ensure eligibility before claiming any of these items on your tax return. Ultimately, understanding the various tax deductions and credits available can help you reduce your tax liability and potentially increase your tax refund.