Saturday School: Do You Understand Tax Deductions?

No doubt, tax deductions are a nice thing. But watch this video and learn why they aren't as terrific as many Americans imagine.

Saturday School: Do You Understand Tax Deductions? Photo by Mega Pixel / Shutterstock.com

After the year ends and the Champagne of New Year’s goes flat, it’s time to turn to your taxes. Consider it the dreaded hangover after weeks of holiday partying.

Almost nothing can make tax season pleasant. But getting a few extra deductions can make the chore a bit more bearable. Watch this Khan Academy video to learn more about deductions, including the single biggest misconception people have about this tax break.

What are some of your favorite deductions? Share them by commenting below or on our Facebook page.

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