Most overlooked tax deductions

Published On: Jan 12 2012 02:20:55 PM EST   Updated On: Feb 15 2013 02:00:00 AM EST

Cut your tax bill to the bone by claiming all the breaks you deserve -- including some you may not know about.

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Tax-Free Transit Subsidy -- The fiscal cliff deal brought a retroactive break for commuters who used public transit to get to work in 2012. Folks who took the bus or train can now receive up to $240 tax-free from their employers to cover the cost of transit expenses. Check with your human resources office to see if your employer offers a transit-subsidy program.

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