Mortgages

• Several of the fees charged by mortgage lenders are deductible as are any points paid on a mortgage, mortgage interest and mortgage insurance.
  
  

Medical and Dental Expenses

• Many people neglect these deductions because they must exceed 7.5 percent of the filer's AGI. People who buy lots of prescription drugs and large families with children who have several minor accidents or wear braces may find that they quickly meet the 7.5 percent requirement.
  
  

Miscellanous Expenses

• Out-of-pocket business expenses not reimbursed by a person's employer are deductible as are fees for having income taxes prepared. These expenses, however, must be more than 2 percent of the person's AGI.
  
  

Adjustments to Income

• Contributions to health savings accounts and moving expenses are often overlooked when figuring AGI. The self-employed should remember that their health insurance premiums, their contributions to retirement accounts and up to 50 percent of any self employment taxes can often be used to reduce their adjusted gross incomes.
  
  

Warning

• An error does not have to be deliberate in order to cause a taxpayer problems. It's wise to have any return looked over by a tax professional, particularly if several deductions have been made to to the filer's adjusted gross income.