16 Most-Overlooked Tax Deductions, Credits, and Exemptions

These frequently overlooked tax breaks could potentially help lower your tax bill.

scissors cutting the word taxes
(Image credit: Getty Images)

People often overlook great tax-saving opportunities because they simply don’t know about them. Or, because tax laws change, it gets hard to keep up with the latest deductions, credits, and exemptions. So, we have highlighted 16 frequently missed tax deductions, tax credits, and tax exemptions.

Hopefully, if you’re eligible for some of these tax breaks, you can reduce your tax bill this year.

Kevin McCormally
Chief Content Officer, Kiplinger Washington Editors
McCormally retired in 2018 after more than 40 years at Kiplinger. He joined Kiplinger in 1977 as a reporter specializing in taxes, retirement, credit and other personal finance issues. He is the author and editor of many books, helped develop and improve popular tax-preparation software programs, and has written and appeared in several educational videos. In 2005, he was named Editorial Director of The Kiplinger Washington Editors, responsible for overseeing all of our publications and Web site. At the time, Editor in Chief Knight Kiplinger called McCormally "the watchdog of editorial quality, integrity and fairness in all that we do." In 2015, Kevin was named Chief Content Officer and Senior Vice President.