Save receipts and keep good records so you can get all the deductions you're entitled to, for mileage, home office use and other expenses.
The agreement restores a tuition tax deduction that expired in 2011 and retains until 2017 a tax credit that was scheduled to shrink. But financial aid could still face big cuts.
Make less than $400,000? New limits on deductions could raise taxes for anyone making more than $250,000, twice the number affected by the new rates for top earners.
The threshold for deducting medical expenses from your taxes is rising to 10% of income. Should you accelerate some payments?
The deduction rate for business travel will rise to 56 cents a mile, and the rate for medical travel and moving will rise to 24 cents. The charity rate will not rise.
A number of measures that cut taxes for individuals and businesses have already ended this year. Those include relief from the AMT and sales tax deductions.
Exactly what proof you need to document and deduct your generosity varies by type of donation. Get the receipts even if you don't plan to itemize.
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For years, Todd Mills pushed Frito-Lay to make taco shells from Doritos. He died from a brain tumor on Thanksgiving.
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
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