Learn how to save on your taxes over breakfast

January 30, 2012 by  

The Peters Township Chamber of Commerce is hosting Breakfast Bytes at the HCR Manor Care on February 16. This is a free event.

Those who attend will learn all about HCR Manor Care from their host over breakfast. Following this, Margaret Rowe of H & R Block will talk about the ten most missed tax deductions.

This will be an excellent networking opportunity for those in Peters Township, including McMurray, to connect with their fellow business leaders. Arranging for business card printing before attending this event is highly recommended.

Many business people and individuals do not take full advantage of tax breaks offered. Taxes can be extremely high depending on where you are located and any help to lower that tax bill is something we all wish for. MSN money has listed several of the most overlooked tax deductions people often miss out on.

While everyone knows that cash donations to charity are tax deductible, they don’t consider that donated items are also deductible. This includes clothes you donate to the Salvation Army or Goodwill. Just make sure you get a receipt. Points that you gather from refinancing your house are tax deductible. Health insurance premiums are often also overlooked. Self-employed persons or those without a company plan can deduct up to 100% of their premiums. Teachers and other educators can claim up to $250 a year towards such items as supplies and computer equipment. Students of higher education can claim part of their tuition on their tax form. If you make any changes that result in energy savings you can claim the Energy Savings Home Improvement Credit. Ms Rowe will probably touch on all these points as she helps businesses to save on their tax bills.