Only -226 days left to file. Tax Day is April 15th — file now!
Only -226 days left to file. Tax Day is April 15th — file now!

Slay your Taxes with TaxSlayer’s
Top 5 Overlooked Deductions to Maximize your Refund

Leading online tax site helps consumers avoid leaving money on the table this tax season

EVANS, GA – As Benjamin Franklin said, “In this world nothing can be said to be certain, except death and taxes. However, filing your taxes can be rewarding if taxpayers take advantage of the appropriate deductions. During the 2015 tax season, more than 50 million Americans prepared and filed their tax returns on their own, generating an average refund of around $2,700.*

To help taxpayers capitalize this tax season, and maximize their refund, the experts at TaxSlayer, a leading online tax service provider, have compiled a list of the top 5 deductions commonly overlooked to ensure you don’t leave money on the table. Submitting deductions with your return can potentially add more dollars in your bank account come spring. Deductions include:

  1. The Doctor Will See You Now.
    Going to the doctor can be expensive with copays, cost of transportation, prescriptions and premiums adding up to large amounts. However, most people don’t know—or take the time to find out—that medical expenses can be a major deduction item. So, if you got an annual exam, contact lenses, glasses, visited a chiropractor, purchased birth control pills, used a service animal, or even got braces in 2015, make your deductions and get back some of that money you spent taking care of yourself. i
  2. Oh Baby!
    Millennials are waiting longer to start families, with some deciding to forgo children all together. For couples with baby fever the reward outweighs the cost hands down. The deductions a baby can produce might surprise you. For those of us that need a little extra help, infertility treatments has proven to be very successful—and deductible. Treatments like artificial insemination, tubal ligation reversal and vasectomy reversal surgeries, as well as In Vitro Fertilization are all tax deductible. Infertility costs can reach into the tens of thousands, so take advantage of these deductions at the end of the year for a greater return.
  3. Working From Home Just Got Easier.
    Working from home can be great, but keeping track of all your expenses can oftentimes be a hindrance. The IRS did us a solid a couple of years ago by developing the Simplified Business Use of Home (Form 8892), which is a deduction designed for self-employed individuals that work from home (or a remote agent style employee). It allows the self-employed a deduction using up to 300 sq.ft. of their home at an automatic $5 per sq. ft., which takes the place of all other expenses. The maximum deduction amount is $1,500.
  4. Breaking Up Is Hard To Do.
    We’ve all heard the overused truism that 50 percent of marriages end in divorce. Since people are tying the knot at a more mature age, marriages are beginning to stand the test of time. However, if you are not a part of the “lifers” club, and you have to pay alimony, you’re in luck! Alimony is deductible as long as you follow the requirements put in place by the IRS, such as payments must be made in cash, alimony must be court ordered, the former couple cannot live together or file a joint tax return, just to name a few. There are seven requirements in all, for a complete list visit the IRS website.
  5. Still Getting Help From Mom And Dad?
    Congratulations on graduating (six months ago)! Finding that “dream” job is taking longer than expected, so your parents have agreed to help you out with student loan payments. This is great in more ways than one. First, your parents are footing the bill, which is one less thing you have to worry about while you are trying to find your place in the workforce. Secondly, you can deduct the interest paid by your parents! This is what we in the tax biz call a “win-win.” As long as the previous student is not still being claimed as a dependent they can qualify to deduct up to $2,500 of interest. We hear you thinking out loud, and no, your parents have no claim to the student-loan interest because they are not responsible for paying back the loan, you are. Like we said, “win-win.”

For more information and ways to save, visit https://www.taxslayer.com

###

About TaxSlayer

TaxSlayer grew out of a family-owned company with 50 years in the tax preparation business. We are one of the leading software development companies for tax services and offer a range of high-quality, low-cost tax products to assist individuals and professional tax preparers.

TaxSlayer was built upon hard work and dedication to our customers. We continue to provide customers with innovative, high-quality products for electronic filing of federal and state tax returns as well as easy-to-use bookkeeping and payroll solutions for small businesses.

* IRS.gov
i Remember, medical expenses are deductible if they are not reimbursed by your health insurance provider and the expenses exceed 7.5 percent of your adjusted gross income if you’re 65 or over or 10 percent of your AGI if you’re under 65 years old. To report medical expenses please use Schedule A, Form 1040.

TaxSlayer Terms of Service

Please read the Terms of Service below. They cover the terms and conditions that apply to your use of this website (the "Website," or "Site"). TaxSlayer, LLC. ("TaxSlayer") may change the Terms of Service from time to time. By continuing to use the Site following such modifications, you agree to be bound by such modifications to the Terms of Service.

General Terms and Conditions. In consideration of use of the Site, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the registration page and (b) to maintain and update this information to keep it true, accurate, current and complete. If any information provided by you is untrue, inaccurate, not current or incomplete, TaxSlayer has the right to terminate your account and refuse any and all current or future use of the Site. You agree not to resell or transfer the Site or use of or access to the Site.

You acknowledge and agree that you must: (a) provide for your own access to the World Wide Web and pay any service fees associated with such access, and (b) provide all equipment necessary for you to make such connection to the World Wide Web, including a computer and modem or other access device.

By using the TaxSlayer.com web site, including any applets, software, and content contained therein, you agree that use of the Site is entirely at your own risk. THE SITE IS PROVIDED "AS IS," WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTY FOR INFORMATION, DATA, SERVICES, UNINTERRUPTED ACCESS, OR PRODUCTS PROVIDED THROUGH OR IN CONNECTION WITH THE SITE. SPECIFICALLY, TAXSLAYER DISCLAIMS ANY AND ALL WARRANTIES, INCLUDING, BUT NOT LIMITED TO: (1) ANY WARRANTIES CONCERNING THE AVAILABILITY, ACCURACY, USEFULNESS, OR CONTENT OF INFORMATION, PRODUCTS OR SERVICES AND (2) ANY WARRANTIES OF TITLE, WARRANTY OF NON-INFRINGEMENT, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THIS DISCLAIMER OF LIABILITY APPLIES TO ANY DAMAGES OR INJURY CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT OR DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF, OR USE OF RECORD, WHETHER FOR BREACH OF CONTRACT, TORTUOUS BEHAVIOR, NEGLIGENCE, OR UNDER ANY OTHER CAUSE OF ACTION.

NEITHER TAXSLAYER NOR ANY OF ITS EMPLOYEES, AGENTS, SUCCESSORS, ASSIGNS, AFFILIATES, WEBSITE CO-BRANDING PROVIDERS OR CONTENT OR SERVICE PROVIDERS SHALL BE LIABLE TO YOU OR OTHER THIRD PARTY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF USE OF SERVICE OR INABILITY TO GAIN ACCESS TO OR USE THE SERVICE OR OUT OF ANY BREACH OF ANY WARRANTY. BECAUSE SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY TO YOU. IN SUCH STATES, THE RESPECTIVE LIABILITY OF TAXSLAYER, ITS EMPLOYEES, AGENTS, SUCCESSORS, ASSIGNS, AFFILIATES, WEBSITE CO-BRANDING PROVIDERS AND CONTENT OR SERVICE PROVIDERS RESPECTIVE LIABILITY IS LIMITED TO THE GREATEST EXTENT PERMITTED BY SUCH STATE LAW.

TaxSlayer is the owner and/or authorized user of any trademark, registered trademark and/or service mark appearing at this Web Site, and is the copyright owner or licensee of the content and/or information on this Website including but not limited to any screens appearing at the Site. You may not download and/or save a copy of any of the screens except as otherwise provided in these Terms of Service, for any purpose. However, you may print a copy of the information on this Site for your personal use or records. If you make other use of this Site, except as otherwise provided above, you may violate copyright and other laws of the United States, other countries, as well as applicable state laws and may be subject to penalties. TaxSlayer does not grant any license or other authorization to any user of its trademarks, registered trademarks, service marks, or other copyrightable material or other intellectual property, by placing them on this Website.

TaxSlayer reserves the right to change any information on this Website including but not limited to revising and/or deleting features or other information without prior notice. Clicking on certain links within this Website might take you to other web sites for which TaxSlayer assumes no responsibility of any kind for the content, availability or otherwise. (See "Links from and to this Website" below.) The content presented at this Site may vary depending upon your browser limitations.

User Conduct On the Site.

While using the Site, you may not:

  • restrict or inhibit any other user from using and enjoying the Site; or
  • post or transmit any unlawful, fraudulent, libelous, defamatory, obscene, pornographic, profane, threatening, abusive, hateful, offensive, or otherwise objectionable information of any kind, including without limitation any transmissions constituting or encouraging conduct that would constitute a criminal offense, give rise to civil liability, or otherwise violate any local, state, national or foreign law, including without limitation the U.S. export control laws and regulations; or
  • post or transmit any advertisements, solicitations, chain letters, pyramid schemes, investment opportunities or schemes or other unsolicited commercial communication (except as otherwise expressly permitted by TaxSlayer) or engage in spamming or flooding; or
  • post or transmit any information or software which contains a virus, trojan horse, worm or other harmful component; or
  • post, publish, transmit, reproduce, distribute or in any way exploit any information, software or other material obtained through the Site for commercial purposes (other than as expressly permitted by the provider of such information, software or other material); or
  • upload, post, publish, transmit, reproduce, or distribute in any way, information, software or other material obtained through the Site which is protected by copyright, or other proprietary right, or derivative works with respect thereto, without obtaining permission of the copyright owner or rightholder; or
  • upload, post, publish, reproduce, transmit or distribute in any way any component of the Site itself or derivative works with respect thereto, as the Site is copyrighted as a collective work under U.S. copyright laws.

TaxSlayer has no obligation to monitor the Site. However, you acknowledge and agree that TaxSlayer has the right to monitor the Site electronically from time to time and to disclose any information as necessary or appropriate to satisfy any law, regulation or other governmental request, to operate the Site properly, or to protect itself or its customers. TaxSlayer will not intentionally monitor or disclose any private electronic-mail message unless required by law. TaxSlayer reserves the right to refuse to post or to remove any information or materials, in whole or in part, that, in its sole discretion, are unacceptable, undesirable, inappropriate or in violation of these Terms of Service.

Unless otherwise indicated for a particular communication, any communications or material of any kind that you e-mail, post or otherwise transmit through this Website, including data, questions, comments or suggestions ("your Communications") will be treated as non-confidential and nonproprietary. In addition, TaxSlayer is free to use any ideas, concepts, know-how or techniques contained in your Communications for any purpose including, but not limited to, developing and marketing products using such information without compensation to you.

Failure to Comply With Terms and Conditions and Termination. You acknowledge and agree that TaxSlayer may terminate your password or account or deny you access to all or part of the Site without prior notice if you engage in any conduct or activities that TaxSlayer in its sole discretion believes violate any of the terms and conditions, violate the rights of TaxSlayer, or is otherwise inappropriate for continued access.

You acknowledge and agree that TaxSlayer may in its sole discretion deny you access through TaxSlayer to any materials stored on the Internet, or to access third party services, merchandise or information on the Internet through TaxSlayer, and TaxSlayer shall have no responsibility to notify any third-party providers of services, merchandise or information nor any responsibility for any consequences resulting from lack of notification.

You agree to defend, indemnify and hold TaxSlayer and its affiliates harmless from any and all claims, liabilities, costs and expenses, including reasonable attorneys' fees, arising in any way from your use of the Site or the placement or transmission of any message, information, software or other materials through the Site by you or users of your account or related to any violation of these Terms of Service by you or users of your account.

Links from and to this Website. You acknowledge and agree that TaxSlayer and any of its website co-branding providers have no responsibility for the accuracy or availability of information provided by linked sites. Links to external web sites do not constitute an endorsement by TaxSlayer or its website co-branding providers of the sponsors of such sites or the content, products, advertising or other materials presented on such sites.

Information in the many web pages that are linked to TaxSlayer's Website comes from a variety of sources. Some of this information comes from official TaxSlayer licensees, but much of it comes from unofficial or unaffiliated organizations and individuals, both internal and external to TaxSlayer. TaxSlayer does not author, edit, or monitor these unofficial pages or links. You acknowledge and agree that TaxSlayer and its Website Co-branding Providers shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on such external sites or resources.

Other Information. TaxSlayer is taking reasonable and appropriate measures, including encryption, to ensure that your personal information is disclosed only to those specified by you. However, the Internet is an open system and we cannot and do not guarantee that the personal information you have entered will not be intercepted by others and decrypted.

If you wish to make purchases through the Site, you may be asked by the merchant or information or service provider from whom you are making the purchase to supply certain information, including credit card or other payment mechanism information. You agree not to hold TaxSlayer liable for any loss or damage of any sort incurred as a result of any such dealings with any merchant or information or service provider through the Site. You agree that all information you provide any merchant or information or service provider through the Site for purposes of making purchases will be accurate, complete and current. The merchants and information and service providers offering merchandise, information and services through the Site set their own prices and may change prices or institute new prices at any time. You agree to pay all charges incurred by users of your account and credit card or other payment mechanism at the prices in effect when such charges are incurred. You also will be responsible for paying any applicable taxes relating to purchases through the Site.

IRS Circular 230 Notice. Nothing in our communications with you (including, but not limited to, any emails, web site content, attachments, enclosures or other accompanying materials) relating to any federal tax transaction or matter are considered to be "covered opinions" as described in Circular 230.

Miscellaneous. The Terms of Service and the relationship between you and TaxSlayer shall be governed by the laws of the State of Georgia without regard to its conflict of law provisions. You and TaxSlayer agree to submit to the personal and exclusive jurisdiction of the courts located within the state of Georgia.

The failure of TaxSlayer to exercise or enforce any right or provision of the Terms of Service shall not constitute a waiver of such right or provision. If any provision of the Terms of Service is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the Terms of Service remain in full force and effect.

Pricing. By using this site you acknowledge and agree that TaxSlayer provides listing prices only as a guide. Pricing is determined at the time or print/e-file and is subject to change at any time without prior notice.

* Classic and Premium packages include all available online IRS forms. Pricing based upon customer service selections. "Everything" refers to all applicable IRS forms and schedules and the preparation of a federal tax return.

All prices here, and on all outward facing TaxSlayer.com sites, are subject to change at any time without notice. Price is determined at the time of print and/or e-file. Published prices are meant only as a guide and are not a guarantee.
;