Hey Lykkers! Let's be honest: doing your taxes can feel like a treasure hunt where you're not sure you have the right map.

You know the big deductions are out there, but what about the hidden gems that can put serious money back in your pocket?

While everyone remembers their mortgage interest, many lucrative deductions fly completely under the radar. So, let's pull back the curtain on the seven most commonly overlooked tax breaks and, most importantly, how you can legally claim them.

1. The Home Office "Haven" Deduction

If you freelance, run a side business, or were forced to work remotely, your home may be hiding a major deduction. The key is having a space used regularly and exclusively for business.

How to Claim It: You can use the simplified method (a standard deduction per square foot) or the regular method (calculating the actual percentage of your home used for business, including a portion of your rent, utilities, and insurance). Keep records like photos of your office space and utility bills.

2. The "Jury Duty Pay" Return

This is a classic "give with one hand, take with the other" situation. If your employer paid your full salary while you served on a jury and required you to turn over your jury pay, that handed-over amount is deductible.

How to Claim It: Report the amount you surrendered to your employer as an adjustment to income. You'll find this on Schedule 1 of your Form 1040.

3. The Medical Mileage Maneuver

Driving to and from doctor appointments, the pharmacy, or even the hospital for treatment adds up. The IRS allows you to deduct these miles, and most people forget it exists.

How to Claim It: For 2023, the rate is 22 cents per mile. Keep a log in your car: note the date, miles driven, destination, and purpose. You can add this to your other itemized medical expenses.

4. The Student Loan Interest "Family" Loophole

Here's a sneaky one: if someone else (like a parent) is paying back your student loan, the IRS treats it as if they gave you the money, and you paid the debt. As long as you are not claimed as a dependent, you can deduct up to $2,500 of the student loan interest paid on your return.

How to Claim It: The person who paid the loan should receive Form 1098-E from the loan servicer. You then use this form to claim the deduction on your return.

5. The Charitable Deduction for Non-Cash Items

You know you can deduct cash donations, but what about that bag of clothes you gave to Goodwill or the old furniture you donated? Their fair market value is deductible.

How to Claim It: Use a tool like ItsDeductible to value your items. Get a receipt from the charity for any single donation over $250.

6. The "Un-reimbursed" Job Search Expenses

Looking for a new job in the same line of work? Your related expenses are deductible. This includes costs for resume preparation, career coaching, and travel to interviews.

How to Claim It: These are considered miscellaneous itemized deductions. Keep all receipts and records that connect the expense directly to your job search.

7. The Self-Employed Health Insurance Deduction

If you're self-employed and pay for your own medical, dental, or long-term care insurance, you can deduct 100% of your premium costs. This is an above-the-line deduction, meaning you can take it even if you don't itemize.

How to Claim It: Report the total amount you paid in premiums on the dedicated line for self-employed health insurance on your Form 1040.

Expert Insight: Janet Berry‑Johnson, CPA, explains, "The self‑employed health insurance deduction lets you deduct 100% of your health insurance and lower your adjusted gross income."

So, Lykkers, don't leave money on the table this tax season. A little bit of knowledge and some organized record-keeping can make a huge difference. When in doubt, consulting a qualified tax professional is always the smartest move.

Happy saving!