Medical Expenses

• Medical care, prescriptions and treatments can be costly. Deduct qualifying medical expenses on Schedule A to help offset the heavy burden of health care. Qualifying expenses include the cost of doctor's visits, prescription drugs, and equipment such as diabetic syringes and eyeglasses.
  
  

Gambling Losses

• Gambling winnings are included in taxable income. Reduce that taxable income by deducting gambling losses up to the amount of the winnings. Gambling losses are reported and included as itemized deductions on Schedule A.
  
  

Self Employment

• Self-employed taxpayers are generally responsible for tracking and paying their own income tax. Reduce tax liability by claiming tax deductions specific to self-employment. One such deduction is for business use of the home, allowing taxpayers to deduct certain direct and indirect expenses associated with the home-based business.