Little known tax breaks could save you big bucks - FOX13 News, WHBQ FOX 13

Little known tax breaks could save you big bucks

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MIDTOWN MEMPHIS, Tenn. (FOX13) -

With April 15 right around the corner, as you file your taxes there are some tips to save you money.

MORE: IRS.gov credits and deductions

When it comes to tax breaks most people know they can deduct things like mortgage interest and medical expenses. But there are a few breaks that many people do not  know about.

MORE: Do your homework before choosing a tax preparer

She just might be the only person you'll ever hear say she loves taxes but Selma Brinson, owner of Brinson Tax Service in Midtown Memphis is downright giddy when it comes to her job.

"I've had people come in crying and then have them go out the door jumping and excited about what was made available to them," said Brinson, who has been preparing tax returns for 35 years.

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Brinson said it's her job to get you the best return. But also prepare you all year long for an even better tax return next year. And that means...Helping you with some little known deductions.

"A lot of people even tax preparers don't know you can claim medical premiums, the money that is being deducted from your paycheck," she said.

MORE: FOX13 News Tax Guide

That can also include the money you pay to travel to and from certain treatments.

Another juicy credit comes in the form of homeowners who install and use energy efficient items in their homes, but not just the big ticket items.

"But one thing that everybody has and they might not realize is an energy efficient credit and that's a ceiling fan," she said.

While many people know about qualifying college expenses, there are a few lesser known credits Brinson says many students do not know about.
 
"We get a lot of college kids that don't realize they can get $1,000 to do their taxes because a lot of them have never even filed, so they don't know," she said.

Brinson added it's her job to know all of this, so she suggests that instead of doing the research yourself, you might consider an experienced tax professional. Your bank account might appreciate it too.
 
Another big tax break involves moving expenses when you have to move for a job. Brinson said little items like beer and even the pizza you buy for your movers can all be a deduction.

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