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  2. / Video

Tax Tip: Don't Miss These Big Deductions

While you're scrambling to get your tax return done, don't forget some of the less obvious deductions that can save you some money. Watch now!
By TRACY BYRNES Apr 11, 2018 | 12:02 PM EDT

Countdown to tax day is on!

But while you're scrambling to get that return done, don't forget some of the less obvious deductions that can save you some money. 

To start, 2017 was the most expensive hurricane season on record.  Throw in fires and floods and tons of people had damage so be sure to report those casualty or disaster losses that were not covered by insurance.

And did you loan money to a deadbeat friend? Very kind of you -- now don't do it again.

If your so-called friend didn't pay you back, you can take a deduction for the amount you got stiffed, as long as you have proof that you were supposed to be repaid.

If you were looking for a new job in your current industry, then deduct the costs of resumes, outplacement agencies, online fees, etc.

If you're looking for a new career or you're right out of college looking for your first job, you're SOL.

Sorry.

So don't forget about all this stuff as you start tallying.  Check out the IRS site to check out for all the rules and be sure to watch out video above for more deductions!

Tax Day is April 17 this year, so get on it and keep tuning in for more tips and tricks to help you get through this tax season!

Follow me @tracybyrnes and subscribe to our YouTube channel here! 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

TAGS: Money Basics | Personal Finance | Employment | Natural Disaster | Taxes | Tax Planning | Tax Tips | Video |

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