True or false: You canclaimyour broke roommateas a dependent on yourtaxes? Believe it or not, it's true! So long as your deadbeat friend meets the Internal Revenue Service's criteria for a dependent.
That's not the only weirdexemptionor deduction available to reduce your taxable income, either. Since lots of deductionsrequire tracking paperwork and squirreling away receipts, close to 70% of tax filers take thestandard$6,300 break for individuals or $12,600 for joint filers, according to theIRS.
But everyone should consider itemizing instead, as it could uncover significant savings, Lisa Greene-Lewis, CPA and tax expert at TurboTax, told Mic.
"Sometimes you have expenses that could be itemized, and if you take the time andgather receiptsit may open you up tosavingmuch more money," she said. "Even if you don't maintain paper receipts, you can access bank andcreditcard statements online so you have the ability to locate your payments and get those extra deductions."
Before you file your tax returns to Uncle Sam, check out our list of deductions and other perks you shouldn't miss.