If you like to give to charity, this is an area you can make deductions on your taxes. Whether you donate to a church or a 501C3 non-profit, these gifts can be used to lower your taxes. Most organizations give you a receipt or an annual statement of the donation you made that you will need when you file your taxes. This information can be used to help offset some of your taxes.Rental properties are a big advantage to lowering your tax bill. The property has to be exclusively used as a rental property. You can deduct any repairs on the property, property management fees, property taxes, operating expenses, property depreciation, and mortgage interest.If you make business trips, you can deduct the mileage costs for travel. You can record the information on paper or use a tax mileage tracking device.When you have to make a business trip and require the use of an airplane, the airplane fees are 100% tax-deductible. I used to have a rental property in Hawaii and one year I made a trip to visit the property and my property manager. The plane ticket was tax-deductible.A home office is an area of your home that is specifically for business purposes. This means you cannot have your computer, desk, and an entertainment area for guests. The room should look like and be used as an office.The home office could be a room in your home, garage, studio, or barn and the location is exclusively used for your home office.Expenses for your home office can add up to help lower your tax bill. Some expenses are mortgage interest, insurance, utilities, repairs, and depreciation. This is based on the percentage of the area that is used as your home office. Equipment you buy for your home office is also a\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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