Key Points
- Searching for tax deductions is a way to learn how to save money.
- Many of these searches are for very general deductions taken every year.
- There is a good chance these deduction search results don’t change much from year to year.
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As tax season approaches, we’re all searching for tax deductions to take advantage of. Using search engines, many people are looking for deductions to reduce their taxable income, hopefully, putting more money back in their pockets. To discover a concrete ranking of the most searched-for tax deductions, Google Trends ranks on a scale of 0 to 100, with 100 being the most common search term and 50 indicating half as many queries as the most popular search.
12. Child Tax Credit
Parents should be very familiar with child tax credits.
- Top query Google score: 12/100
The Child Tax Credit is a tax break for families with children up to 17, which is worth up to $2,000 per child, provided you meet specific income requirements.
11. IRS Tax Deductions
It’s not surprising to see a tax deduction search related to the IRS.
- Top query Google score: 28/100
This deduction search is more of a general search for an individual or family looking to get a broad list of deductions approved by the IRS.
10. Home Office Expenses
There are a lot of write-offs related to home office expenses.
- Top query Google score: 31/100
With the rise of home office work, the amount of tax deductions someone can claim for rent, equipment, hardware, and other expenses has increased.
9. Business Tax Deductions
Business tax deductions can dramatically help reduce taxable income.
- Top query Google score: 34/100
Meals and travel are two very common business tax deductions, whether for self-employment or with a company, but mileage and even business insurance costs can also be included.
8. Tax Credit
Tax credits should not be confused with tax deductions.
- Top query Google score: 34/100
Often confused with a tax deduction, a tax credit is a dollar-for-dollar reduction of the amount of tax you owe against whatever dollar amount your tax liability is for a certain year.
7. 2024 Tax Deductions
Tax deductions are a must to save money.
- Top query Google score: 39/100
Although this is more of a general search term, it popped up in the top 10, as many Google and search engine users want to understand the new 2024 tax deduction rules.
6. Itemized Deductions
Most people use itemized deductions upon filing taxes.
- Top query Google score: 43/100
A taxpayer can subtract an itemized deduction from their adjusted gross income to reduce the taxable income they must pay, often in medical expenses, charitable contributions, property taxes, etc.
5. Standard Deductions
Using standard deductions is normal for most tax returns.
- Top query Google score: 43/100
One of the most common tax deductions on everyone’s tax form can be broken down into single and married filing separately, married filing jointly, or head of household.
4. Charitable Contributions
Giving to charity can be used as a tax deduction.
- Top query Google score: 43/100
While we hope everyone wants to give out of the goodness of their heart, there are also tax benefits from making charitable gifts like clothes or furniture.
3. Student Loan Tax Deduction
Tax deductions with student loans can be very beneficial.
- Top query Google score: 50/100
It won’t come as much of a surprise to learn that student loan tax deduction is a popular search term. The student loan interest deduction lets students write off up to $2,500 from taxable income if they paid any interest.
2. Federal Tax Deductions
Federal tax deductions were a major search result in 2024.
- Top query Google score: 55/100
Better known as a Standard Deduction, the Federal tax deduction is another amount that can reduce your taxable income and how much you owe at the end of the year.
1. Income Tax Deductions
Income tax deductions were the number one search in 2024.
- Top query Google score: 100/100
Any deduction that reduces your taxable income is considered an income tax deduction. Unsurprisingly, this was the most-searched tax deduction in 2024.
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