If you’re like most people, you probably begin each year with a set of resolutions. These goals can be large or small, but they always represent your hopes for a better future. In many cases, your new objectives can also save you money if you itemize deductions on your income taxes. Simplified Tax of Sparta, WI, is here to help you sort through all of your deductions to get you the biggest refund possible when you sign up for a tax consultation.

Here are four types of expenses you can typically deduct from your taxes:

• Loan Interest: Did you make a resolution about getting out of debt? Well, homeowners can deduct the interest paid on their mortgages. Relief also exists for your student loan debt. You can claim the interest paid on these loans on your tax return by getting a tax consultation before filing.

• Fitness Expenses: Losing weight is perhaps the most common resolution made each new year. It is best to speak with your physician first because if they believe your weight poses a serious health threat, you can virtually claim any recommended procedures or products as qualified deductibles. Then, when you stop in for your tax consultation, bring all the receipts related to your weight loss program.

• Educational Expenses: The government knows an educated population benefits the common good. Therefore, it allows taxpayers to deduct educational expenses. You can claim either the Lifetime Learning Credit or the American Opportunity Tax Credit. These two deductions can save you over $2,000 and help you with that resolution to go back to school.

• Volunteer Costs: You can deduct money spent on gas getting to a volunteer or charitable organization work site. It is also possible to write off any supplies purchased to complete volunteer duties, so you can continue supporting worthy causes.

When you’re ready to get a tax consultation for the maximum benefits from your resolutions, call Simplified Tax in Sparta at (608) 269-2633. You can also see their website to learn more about all of their accounting services before you file.