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Step 1
Keep a very accurate record throughout the year of your income and expenses related to work. This means that any time that you are eating out for work, your car if you use your car for work and insurance and so many other expenses could potentially be written off.
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Step 2
Make sure that you are utilizing all of the extra taxes and credits that you can. This makes it essential to go through all of the forms and charts in your tax booklet even though it is time consuming.
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Step 3
Follow up with your taxes and make sure that you have done everything in the past that you could do. Look at irs.com for more valuable info about maximizing your tax deductions.
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Step 4
Keep the receipts of your charity donations and other expenses that are Tax Deductible.
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Step 5
Remember that the best accuracy for having spending money is to follow up with things and to make sure that you are sending in all of the information needed as well as keeping detailed records throughout the year.
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Step 6
Receipts are always handy as well in case you were to get audited which could save you hundreds as well. Get a small notebook and tape your receipts in the notebook if that will make sense to you.
