No. 2: Business meals
PeopleJam.com advises consumers to consider business meals for deductions and write-offs.
For example, if you're taking a candidate for a lunch interview or entertaining sales clients at dinner, the bill might be deductible under certain scenarios.
Of course this only applies if you pick up the tab and business is actually discussed.
The most important thing to remember about business deductions and write-offs for taxes is that only half the bill is usually eligible for deductions, and this will vary depending on how much you spend and whether the meal seems legitimate.
As with relocation expenses, you also cannot claim meal costs on your taxes if your employer reimburses you for them.
Beware of going overboard though. The IRS forbids deductions of lavish and extravagant meals, and if you do get audited it may prove difficult to show the necessity of such expensive meals.
No. 1: Mileage expenses
If you use your vehicle for business, you'll want to keep one number in mind: 50.
That's how many cents each mile of your business-related driving -- not including your daily commute -- is worth as a write-off for your taxes.
But the IRS doesn't limit driving write-offs to just business traveling. You can also claim 16.5 cents for medical trips and 14 cents for each charity-related mile you drive, as long as you are making a dedicated trip to volunteer for a qualified nonprofit.
But the business driving expenses you can deduct don't stop with some help covering the ever-increasing cost of tax. You can also deduct any parking fees and tolls you pay as part of the business use of your vehicle.
If you feel that 50 cents per mile is a little low, you also have the option of calculating the actual costs of using your car for work. Details on how to claim those costs can be found on the IRS' website.