5 Tax Write-Offs You Shouldn't Forget

By Steve Thompson, Contributing Writer

With every penny counting these days, it's no surprise that everybody is searching for every single tax deduction and write-off they can find.

After all, saving money on taxes in the spring can free up a significant amount of cash that you could be doing other things with the rest of the year.

Itemizing might save you money over taking the standard deductions, but you need to remember that not all deductions and write-offs are applicable to every situation.

Some are limited by scope or other criteria, so don't forget to read the small print. Working with an experienced accountant or checking your facts with the IRS will also save you headaches in the future.

Keep in mind that peppering your taxes with lots of these write-offs might arouse suspicion with the IRS, which doesn't tend to be too tolerant of mistakes.

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