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7 tax deductions and credits that many people often overlook

from The Motley Fool via DailyFinance

Whether you love them or despise them, taxes are one of life's only two sure things, at least according to Benjamin Franklin. But for many, having taxes taken out of their paycheck on a weekly, bi-weekly, or monthly basis is their only form of savings during the year. Although the personal savings rate in the U.S. of 4.2 percent is off its historic lows, relative to other nations around the world it's pretty low. This means that despite the unpopularity of taxes, they can deliver quite a pop to a number of Americans come February, when tax refunds begin to trickle in. more


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