Tax season doesn’t have to be stressful, especially when you know which tax deductions you qualify for. Every year, many taxpayers miss out on valuable deductions simply because they’re unaware of them or unsure how to claim them correctly. 

At AIM Tax & Mortgage, we help individuals, families, and small business owners in Grand Rapids and surrounding areas maximize their tax savings. Below are some of the best tax deductions to claim this year. 

1. Standard Deduction vs. Itemized Deductions 

Most taxpayers choose the standard deduction, but itemizing may save you more if your deductible expenses are higher. 

Itemized deductions may include: 

  • Mortgage interest
  • Property taxes 
  • Medical expenses 
  • Charitable contributions 

A professional tax review can help determine the best option for your situation. 

2. Mortgage Interest Deduction 

Homeowners may deduct interest paid on: 

  • Primary residence mortgages 
  • Certain home equity loans are used for home improvements 

As both tax and mortgage professionals, AIM Tax & Mortgage ensures this deduction is handled accurately. 

3. Property Taxes 

State and local property taxes paid during the year may be deductible (subject to IRS limits). This often includes taxes paid through your mortgage escrow account. 

4. Child Tax Credit & Dependent Credits 

Families may qualify for valuable credits such as: 

  • Child Tax Credit  
  • Credit for Other Dependents 
  • Child and Dependent Care Credit 

These credits can directly reduce your tax bill and may increase your refund. 

5. Self-Employed & Small Business Deductions 

If you are self-employed or own a small business, you may be eligible to deduct: 

  • Home office expenses 
  • Business mileage 
  • Internet and phone usage 
  • Office supplies and equipment 
  • Software and subscriptions 

Many self-employed taxpayers overpay due to missed deductions. 

6. Education-Related Tax Benefits 

Education expenses may qualify you for deductions or credits, including: 

  • Tuition payments 
  • Student loan interest 
  • Work-related education costs 

Both parents and students may benefit from these tax breaks. 

7. Medical and Health-Related Expenses 

Certain out-of-pocket medical expenses may be deductible if they exceed IRS thresholds, including: 

  • Doctor and hospital visits 
  • Prescriptions 
  • Health insurance premiums (especially for self-employed individuals) 

8. Charitable Contributions 

Donations made to qualified charities—such as churches or nonprofit organizations—may be deductible. This includes:

  • Cash donations
  • Clothing and household items

Always keep donation receipts for your records.

9. Retirement Contributions

Contributing to retirement accounts such as:

  • Traditional IRAs
  • 401(k)s
  • SEP IRAs

can reduce your taxable income while helping you plan for the future.

10. Earned Income Tax Credit (EITC)

The Earned Income Tax Credit is one of the most commonly overlooked credits and can result in a significant refund for qualifying low-to-moderate income earners.

Why Choose AIM Tax & Mortgage?

Tax laws change every year, and every financial situation is different. Working with AIM Tax & Mortgage ensures:

  •  Every eligible deduction is claimed
  • We have 40+ years of experience!
  • Your return is accurate and compliant
  • You receive personalized tax and financial guidance
  • We make it easy to file especially for returning clients! We have everything on file and ready to go!

Visit Us or Schedule an Appointment Today

AIM Tax & Mortgage
3738 28th St SE
Grand Rapids, MI 49512

Let us help you maximize your refund and take the stress out of tax season.

Contact us today @ 616-855-3300 to schedule your tax appointment!

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