EPISODE 12 ~ TOP TIP: Tax Deductions: Saving Receipts And Money At The Same Time

A wise accountant once explained tax deductions to me in a way that turned me into a receipt-saving, itemizing machine. Here’s what he said: For every $100 worth of tax deductions you come up with, you save the amount of your tax bracket. So, let’s say you’re in the 28 percent tax bracket. For every $100 worth of deductions you claim, you will save $28 bucks! This is such a simple, concrete way of looking at it that it can be very motivating. So start documenting those miles driven for work, those office supplies purchased, and job search expenses laid out …and watch the savings add up!

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