The best deductions from income are BUSINESS. You can do any business from home or from office in your spare time and deduct expenses as business expenses from your income. I am doing taxes and finances in my spare time, after work and always was glad I am doing something I love and save money from the taxes the same time. As a business owner you can put much more money for your retirement and deduct it from you business income. There are special retirement plans for business owners, for some of them you can put even 100% of your business income. In the conversation with your financial adviser ask about this financial opportunity.
You cannot come to the tax professional and just tell me "I want to have a big refund", you have to have expenses that can be deducted from your income, then you will have refund.
I have few businesses that I can offer to your review. This is real life businesses with product that a lot of people need. You can do this businesses online or off line. This will be real, legal deductions or really good increase to your income, if you like to see it this way. (Check page "Internet Links", please for more information on home-based businesses).
Even if you bought house for the reason to save taxes, you save only having itemized deductions compare to standard deductions, but your ADJUSTED INCOME will be the same as your REAL INCOME. The real saving happen only if you available to make your adjusted income much less than your total income on the tax form. This can happen if you have business.
Now you know how to make your adjusted income less than total income, how to save on taxes or earn more with your new business.
