1. Medical Expenses
If your total medical expenses equal more than 7.5% (rising to 10% in 2013) of your adjusted gross income, you can deduct them.
2. Business-Related Expenses
The expenses you incur during a job search, such as printing resumes, career counseling and even travel to interviews are all deductible.
3. Mortgage Expenses
If you paid points on your home mortgage, you may be able to deduct the entire amount of the points on your original loan.
4. Charitable Donations
Most people realize that if they give money to charity, that amount is deductible on their taxes.
5. Higher Education