Quick take
Most filers leave money on the table because they don't realize which expenses the IRS lets them deduct. Below are the most-missed write-offs—paired with the latest dollar limits—to help you keep more of what you earn this year.
1. Standard vs. itemized
The 2024 standard deduction is $29,200 (MFJ), $21,900 (HoH), or $14,600 (Single/MFS). If your potential itemized deductions don't clear these thresholds, take the standard; otherwise, itemizing unlocks every break that follows.
2. Health-Savings Account (HSA)
Have a high-deductible health plan? Contributions are "above-the-line" deductions: up to $4,300 (self-only) or $8,550 (family) for 2025—even if you don't itemize.
3. Student-loan interest
You can deduct up to $2,500 of qualified student-loan interest, subject to MAGI phase-outs, whether or not you itemize.
4. Educator classroom expenses
K-12 teachers, aides, and principals may write off up to $300 in unreimbursed classroom supplies—or $600 if both spouses qualify and file jointly.
5. Traditional IRA contributions
If neither spouse is covered by a workplace plan, your traditional-IRA contribution (up to $7,000, or $8,000 if 50+) is fully deductible. Coverage at work doesn't kill the break, but income limits apply.
6. Charitable giving
Itemizers can deduct cash gifts to 501(c)(3)s up to 60% of AGI (lower limits apply to certain property).
7. Home-office deduction (self-employed)
Use part of your home regularly and exclusively for business? You can deduct a pro-rated share of expenses—or use the simplified method of $5 per sq ft (max 300 sq ft).
8. Business mileage
Self-employed or gig-workers can deduct 70¢ per mile for 2025 business driving (keep a mileage log). Medical and active-duty-move miles are deductible at 21¢.
9. Medical expenses over 7.5% of AGI
Itemizers may deduct unreimbursed medical and dental expenses that exceed 7.5% of AGI—big procedures, long-term-care premiums, and even certain travel count.
10. State & local taxes (SALT)
Income, sales, and property taxes are deductible up to a combined $10,000 cap ($5,000 MFS). High-tax-state residents sometimes "bunch" payments into alternate years to maximize the break.
11. Bonus write-offs worth a look
| Deduction | 2025 highlight |
|---|---|
| Self-employed health-insurance premiums | 100% write-off on Schedule 1 |
| SEP-IRA / Solo 401(k) | Up to 25% of net self-employment income (annual dollar cap applies) |
| Moving expenses (active-duty military) | Deduct actual costs or 21¢/mile |
| Educator professional development | Counts toward the $300 educator limit |
How to act now
- Audit last year's return line by line for missed deductions.
- Adjust withholding or quarterlies once new write-offs are factored in.
- Collect documentation early—receipts, 1098-E, HSA statements, mileage logs—so filing is painless.
Disclaimer: This article is for general education only and isn't individualized tax advice. Consult a qualified professional for guidance on your situation.