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Tax Deductions: Can You Tell If These Are Legit?


The government itself estimates that individuals and businesses spend more than 6 billion hours a year dealing with their tax returns and all the decisions that go into them. (Yes, that’s billion with a "b.") That’s about how many hours 3 million full-time workers spend on their jobs each year.

We can’t change the law, but we can help you understand it and make the best of it. When it comes to how much tax you must pay, knowledge really is power. Take a look at these frequently asked tax questions from visitors to See if you can separate the legitimate deductions from the ones that would trigger a "not so fast, buddy" response from the IRS.

We hope this quiz gives you some ideas for lowering your taxes throughout the year. Good luck!

Note: The answers here are based on the tax law in effect for 2017. Big changes may be coming soon as President Trump and congressional Republicans vow a major tax overhaul.

SEE ALSO: 23 Most-Overlooked Tax Deductions

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