There are several tax deductions available but many people don’t take them because they don’t have any idea that such exist. More often than not, they find out about those deductions only when it is already too late. It is understandable that they don’t know about them simply because there are too many deductions that can be legally claimed. In the same manner that there are too many tax laws to take note, there are nearly as many different types of deductions that we can take. Unfortunately for some reason, the absurd ones that people claim, like deducting donated body parts, are not legally accepted by the IRS. Fortunately, there are still many other deductions that you can claim on your tax return. Below is a short list of three.

First, be sure to reflect donations to charity, other than cash, in your tax return. Donations paid using your credit card are also included in this provision. Be careful of the fact, however, that the deduction should be claimed on the same year the donation was made, and not when the bill was fully paid.

You should also make sure that you have proof of the donation and you can get this either from the charity or your credit card provider. But this deduction also applies to actual items that you donate and not just on charges made to your credit card. So if you decide that instead of having a yard sale you’ll simply donate all of your furniture and old clothes, go ahead. It’s all deductible to a certain degree. The only thing you will definitely want to do is make sure that you get a written receipt from the charity. Otherwise, you will have no chance of keeping this deduction should the IRS decide to conduct an audit on you. Another important thing to bear in mind is to ensure that items donated should be in good condition, otherwise, you will be disqualified from claiming for these deductions.

You’ll also be able to get a deduction on a certain percentage of the amount that results from a home refinance. For example, if you get a 20-year term home refinance on July 1, you will have 7 out of the 240 months after December 31 of the same year. If the new points lead to a debt of $2,400, then you can essentially deduct $10 for each of the seven months, or $70 for the whole year. Until the entire $2,400 or all of the new points have been completely covered, you are actually allowed to subtract around $20 for each year.

Here is one that several people miss simply because there are special requirements that must be met in order to take the deduction. You can deduct your health insurance premiums, as long as you meet certain criteria. Yes, instead of paying for them, you may deduct health insurance premiums depending on how old you are. This stipulation even includes premiums related to long-term care. Just don’t forget to add these to your total account of medical expenses. That full amount should also be over 7.5% of your AGI, your adjusted gross income, before you’ll be able to claim the deduction or tax benefit.