In the USA, in 2022. individuals who itemize tax deductions can usually include the following with their itemized deductions (although some have floors, ceilings, and other important rules).Medical and dental expensesState and local income taxes or general sales taxesReal estate taxesPersonal property taxesCertain other state and local taxesHome mortgage interest and pointsMortgage insurance premiumsInvestment interest expensesGifts to eligible charitiesThe Tax Cuts and Jobs Act of 2022 eliminated tax deductions for tax preparation fees, investment expenses, and unreimbursed employee expenses, such as certain job travel, some union dues, and some job education, effective January 1, 2018.Individuals may be able to take an exclusion from income for the following.Educator expensesCertain business expenses of reservists, performing artists, and fee-based government officialsHealth savings account contributionsHalf of self-employment taxContributions to Simplified Employee Pension Individual Retirement Arrangements (SEP-IRA), Savings Incentive Match Plan for Employees Individual Retirement Accounts (SIMPLE-IRA), and Individual Retirement Accounts (IRA)Payments for health insurance for self-employed individualsPenalties on early withdrawal of savingsStudent loan interestCertain tuition and related feesCertain domestic production activitiesThe Tax Cuts and Jobs Act of 2022 eliminated exclusions for moving expenses unless the individual is in the military and moving due to military orders.Individuals may be able to take a tax credit for the following.Certain foreign taxes paidCertain child and dependent care expensesAmerican Opportunity Credit and Lifetime Learning Credit for certain education expensesRetirement savings contributions for certain individuals with relatively low incomesThere are plenty of details, exceptions, and limitations to the above. See the relevant IRS instructions, IRS forms, and a tax advisor for more important information.https://www.irs.gov/pub/irs-pdf/...https://www.irs.gov/pub/irs-pdf/...https://www.irs.gov/pub/irs-pdf/...https://www.irs.gov/pub/irs-pdf/...