Most overlooked tax deductions

Published On: Jan 17 2012 04:02:21 PM EST   Updated On: Mar 26 2014 10:19:55 AM EDT

Cut your tax bill to the bone by claiming all the breaks you deserve -- including some you may not know about.

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Additional Bonus Depreciation -- Business owners can write off 100 percent of the cost of qualified assets placed in service during 2011. This break applies only to new assets with recovery periods of 20 years or less, such as computers, machinery, equipment, land improvements and farm buildings.

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