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Feb 1, 2012 8:47PM on Smart TaxesBy MSN Money Partner

Buying a home complicates your tax return but may provide savings. Mortgage interest, points and PMI are deductible, and you may get tax-free profits when you sell.

Feb 1, 2012 11:29AM on Smart TaxesBy MSN Money Partner

If your medical expenses exceed 7.5% of your income, you can deduct what you pay for medical care, including eyeglasses and mileage for doctor visits.

Jan 31, 2012 3:08PM on Smart TaxesBy MSN Money Partner

The president wants to cut taxes on investment and add a 10% credit for businesses that create jobs or raise wages. Some of his proposals already have bipartisan support.

Jan 20, 2012 12:39PM on Smart TaxesBy MSN Money Partner

The previous exemption of the first $2,400 in unemployment benefits from federal tax is over. Job-search costs, training for a new job and relocation expenses may be deductible.

Jan 17, 2012 6:53PM on Smart TaxesBy MSN Money Partner

If you suffered losses from a flood, hurricane or other disaster that weren't covered by insurance, you may be able to deduct your losses on your federal income tax return.

Dec 19, 2011 3:00PM on Smart TaxesBy MSN Money Partner

Helping out those in need is always a good thing to do. But it's only sometimes tax-deductible. Make sure you know the rules.

Dec 16, 2011 5:57PM on Smart TaxesBy MSN Money Partner

You'll get a bigger deducation if the charity uses your car rather than sells it. Either way, be sure to follow the rules and save the paperwork.

Dec 16, 2011 1:41PM on Smart TaxesBy MSN Money Partner

No, you can't make a whole year's payments and save more. Be careful that accelerated payments don't throw you into an Alternative Minimum Tax situation.

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