Visit for breaking news, world news, and news about the economy


Although 2011 tax returns aren’t due until April 17, many families are already working on preparing last year’s returns. If you count yourself among those taxpayers working on their returns, make sure you don’t miss taking one of these often-overlooked tax deductions.


First on CNBC Personal Finance Correspondent Sharon Epperson’s list is the state sales tax deduction. Federal taxpayers have the opportunity to deduct either their state sales taxes or state and local income taxes. If you live in a state without an income tax then deducting your state sales tax can boost your refund or reduce your tax liability.


Photo: 401K/Flickr