Free Deduction Finder
Answer a few questions and discover tax deductions you might be missing. Personalized for your work type, profession, and life situation.
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Deductions Found
44
Potential savings: $59,300 – $545,630
Retirement
4SEP IRA Contributions
Contribute up to 25% of net SE income, max $69,000. Easy to set up, no employee contributions required.
$5,000 – $69,000
Solo 401(k) Contributions
Employee deferral ($23,500) plus employer contribution (25% of net SE income). Highest limits for solo freelancers.
$5,000 – $69,000
Traditional 401(k) Contributions
Pre-tax contributions up to $23,500 ($31,000 if 50+). Reduces taxable income dollar-for-dollar.
$3,000 – $23,500
Traditional IRA Contributions
Deductible IRA contributions up to $7,000 ($8,000 if 50+). Income limits apply if covered by employer plan.
$1,000 – $7,000
New for 2026
4Tax-Free Social Security Benefits (New 2026)
Social Security benefits may no longer be subject to federal income tax.
$1,000 – $30,000
Tax-Free Overtime Pay (New 2026)
Overtime pay (hours over 40/week) may be exempt from federal income tax under the Overtime Exemption Act.
$2,000 – $20,000
Tax-Free Tips (New 2026)
Tips received by service workers may be exempt from federal income tax under the No Tax on Tips Act.
$1,000 – $15,000
Auto Loan Interest Deduction (New 2026)
Interest on auto loans for domestically manufactured vehicles may be deductible up to $10,000.
$500 – $10,000
Family
4Alimony Payments (Pre-2019 Agreements)
Alimony paid under divorce agreements executed before 2019 is deductible by the payer.
$5,000 – $30,000
Adoption Tax Credit
Up to $17,280 per child for qualified adoption expenses. Phases out at higher incomes.
$5,000 – $17,280
Child Tax Credit
$2,200 per qualifying child under 17. Phases out above $200K/$400K (MFJ).
$2,200 – $8,800
Dependent Care FSA
Pre-tax contributions up to $5,000/year for childcare. Reduces FICA and income tax.
$2,000 – $5,000
Housing
6Mortgage Interest Deduction
Deduct interest on up to $750K of mortgage debt ($375K MFS). Must itemize.
$3,000 – $25,000
Casualty & Theft Loss (Disaster Areas)
Losses from federally declared disasters, net of insurance, exceeding 10% of AGI + $100.
$1,000 – $20,000
Property Tax Deduction
Deduct state and local property taxes, combined with income/sales tax up to $10,000 SALT cap.
$1,000 – $10,000
State & Local Tax Deduction (SALT)
Deduct state income tax (or sales tax) plus property tax, up to $10,000 combined. Must itemize.
$2,000 – $10,000
Mortgage Points Deduction
Points paid on a home purchase mortgage are deductible in the year paid.
$1,000 – $8,000
Private Mortgage Insurance (PMI)
PMI premiums may be deductible if AGI is under $100K. Phases out $100K-$109K.
$600 – $3,000
Business Expenses
11Subcontractor & Freelancer Payments
Payments to subcontractors, virtual assistants, and other freelancers you hire.
$1,000 – $20,000
Equipment & Software (Section 179)
Deduct full cost of business equipment, computers, software in the year purchased. Up to $1.25M.
$500 – $10,000
Business Travel Expenses
Airfare, hotels, car rentals, and other travel costs for business purposes.
$500 – $10,000
Moving Expenses (Military Only)
Active-duty military can deduct unreimbursed moving expenses for permanent change of station.
$1,000 – $10,000
Professional Services
Accounting, legal, tax preparation, bookkeeping, and other professional fees.
$500 – $5,000
Advertising & Marketing
Website costs, domain names, online ads, business cards, promotional materials.
$200 – $5,000
Gambling Losses (Up to Winnings)
Deduct gambling losses up to the amount of gambling winnings reported. Must itemize.
$100 – $5,000
Software & SaaS Subscriptions
Business software, cloud services, project management tools, design tools, etc.
$200 – $3,000
Business Insurance
Liability insurance, E&O insurance, and other business-related insurance premiums.
$500 – $3,000
Business Meals (50%)
50% of meal costs with clients, prospects, or while traveling for business.
$200 – $3,000
Office Supplies & Materials
Paper, ink, postage, shipping supplies, and other consumable business materials.
$100 – $1,500
Vehicle & Mileage
3Actual Vehicle Expenses
Deduct actual costs: gas, insurance, repairs, depreciation, based on business-use percentage.
$3,000 – $15,000
Standard Mileage Deduction
70 cents per business mile driven (2026 rate). Includes gas, insurance, depreciation.
$2,000 – $12,000
Parking & Tolls
Business-related parking fees and tolls (deductible even with standard mileage rate).
$200 – $2,000
Health Insurance
3Self-Employed Health Insurance Deduction
Deduct 100% of health, dental, and vision insurance premiums for yourself and family.
$3,000 – $15,000
HSA Contributions
Tax-deductible contributions to a Health Savings Account. 2026 limits: $4,300 individual, $8,550 family.
$1,000 – $8,550
Medical & Dental Expenses (Over 7.5% AGI)
Itemize unreimbursed medical/dental expenses exceeding 7.5% of your AGI.
$500 – $5,000
Charitable
3Charitable Cash Donations
Cash donations to qualified charities. Must itemize. Limited to 60% of AGI.
$250 – $10,000
Charitable Non-Cash Donations
Donated clothing, household goods, vehicles. Fair market value. Must itemize.
$100 – $3,000
Charitable Mileage
14 cents per mile driven for charitable purposes.
$50 – $500
Home Office
3Home Office Deduction (Actual Expenses)
Deduct the business-use percentage of rent, utilities, insurance, repairs, and depreciation.
$1,500 – $8,000
Home Office Deduction (Simplified)
$5 per square foot, up to 300 sq ft ($1,500 max). No record-keeping of actual expenses required.
$500 – $1,500
Internet & Phone (Business Use %)
Deduct the business-use percentage of your internet and phone bills.
$300 – $1,200
Education
3Professional Development & Training
Courses, certifications, workshops, and training related to your current business.
$200 – $5,000
Student Loan Interest Deduction
Deduct up to $2,500 in student loan interest paid. Phases out at $80K–$95K (single) / $165K–$195K (MFJ).
$500 – $2,500
Educator Expense Deduction
K-12 teachers can deduct up to $300 for classroom supplies paid out of pocket.
$100 – $300
About Tax Deductions
Above-the-Line Deductions
These reduce your AGI directly and are available even if you take the standard deduction. They include IRA contributions, student loan interest, and SE tax deduction.
Standard vs. Itemized
You can take the standard deduction ($16,100 single / $32,200 MFJ) or itemize if your deductions exceed it. Most people benefit from the standard deduction.
New for 2026
Several new deductions may be available in 2026 including tax-free tips, tax-free overtime, and auto loan interest for domestic vehicles.