How to save on taxes 5

There are so many miscellaneous expenses.
Here are a few more examples.

Your total miscellaneous expenses have to be more than 2 percent of your adjusted gross income before you can start including these deductions.

Job search expenses

So you went job searching last year and it's tax time.

You can deduct most expenses related to your job search.
Some of the items that are deductible include telephone expense, the cost of resumes,mailing and postage costs career counseling and travel to and from your interviews.

Investment expenses: These include the costs (fees) for brokerage and IRA account-maintenance.
Subscriptions and publications that are related to the endeavor as well as the safety deposit box fees to store the related documents.

So you lost at gambling!
Gambling is a win and lose thing. You can offset some of your winnings with your losses.

You can claim your gambling losses as a miscellaneous tax deduction on Schedule A of Form 1040.

You have to keep an accurate diary or record of your gambling winnings and gambling losses.

If you want to deduct your gambling losses on your tax return, you have to be able to provide the records and paperwork with statements, tickets, receipts or other proof that show the amount of both gambling winnings and losses.

They will want to know when, where and what for everything. Keep an accurate diary of it all as well as aforementioned receipts etc

Sorry , but you can't use a net gambling loss on your tax return ever.

NOTE: Be sure that the publications that you are looking at are for the proper year that you are filing for.

As always before you hang yourself check with
the IRS here www.irs.gov for specifics.

And here http://www.irs.gov/pub/irs-pdf/p529.pdf
and here pertaining more to gambling http://www.irs.gov/taxtopics/tc419.html