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Cary NC - Real Estate Blog.  Filling out tax forms can be time consuming, but it's important to approach this critical task head-on.  If you procrastinate and rush through the process at the last minute, you may miss potential tax benefits you deserve.  And the sooner you file, the sooner you can score a refund!

Don't overlook potentially valueable deductions for these common situations:

• If you are supplying housing or financial support for a struggling relative, you may be eligible to claim them as dependent or qualify for  a more favorable head-of-household status.
• You can deduct medical bills that exceed 7.5% of your adjusted gross income (AGI); only self-employed individuals who do not qualify for a workplace health plan can claim their insurance premiums.
• Certain college expenses up to $4,000 may count as a deduction if your income excludes you from them more generous education tax credits offered for 2010.
• Money spent looking for a job in your current field may also qualify if miscellaneous deductions total more than 2% of your AGI.  IF the new position is more than 50 miles away, moving expenses can also be deducted - even if you don't itemize.
• If you use part of your home exclusively for business and can prove it is your principal office space, you may qualify to deduct a portion of your housing expenses.

Happy Tax Filing!