Common Tax Deductions for Individuals

When filing your tax return, there are several common tax deductions that individuals can claim to lower their taxable income. Some of the most commonly claimed tax deductions include:

• Mortgage Interest Deduction
• Charitable Donations
• Medical Expenses
• State and Local Taxes
• Educational Expenses
• Business Expenses

It is important to keep thorough records and receipts to support your deductions and ensure compliance with tax laws. Consult with a tax professional or use tax preparation software to maximize your deductions and potentially reduce your tax liability.