MOST OVERLOOKED FEDERAL TAX DEDUCTIONS...

LIST OVERLOOKED DEDUCTIONS BELOW:
1. STATE TAX REFUNDS ARE NOT BE TAXABLE TO THOSE WHO OWE AMT (ALTERNATE MINIMUM TAX) AS LONG AS REFUND IS LESS THAN THE STATE TAX DISALLOWED UNDER AMT.
2. CHARITABLE DONATIONS:
  o  DONORS MAY NOT DEDUCT TIME OR LABOR BUT MILEAGE OR UNIFORMS ARE   DEDUCTIBLE.
  o DON'T FORGET CHARITABLE PAYROLL DEDUCTIONS -  NOT LISTED ON THE W2 FORM     OR NO LETTER SENT TO SHOW THEM.
3. HEALTH INSURANCE PREMIUMS - FOR 2010 SELF-EMPLOYED INCOME IS REDUCED BY  THE HEALTH PREMIUM WHEN SE TAX IS CALCULATED.
4. MEDICAL EXPENSES - IF OVER 7.5%  OF AGI, DON'T FAIL TO DEDUCT THE EXCESS.
5. MOVING EXPENSES: TAX PAYERS WHO HAVE MOVED MORE THAN 50 MILES FOR WORK   MAY QUALIFY TO DEDUCT MOVING EXPENSES - FORM 3903.
6. DOMESTIC PRODUCER DEDUCTION (DPD) 9% - FOR OIL RELATED QUALIFIED ACTIVITIES AND INCOME, USE FORM 8903, IF APPLICABLE.

CALL KASH @ YMA (925) 963 4891 OR VISIT www.yajnikandmehta.com FOR MORE INFO.