Know when to claim tax credits, deductions

charitable contributions; casualty and theft losses; and certain education and work-related expenses.

Some miscellaneous deductions, like unreimbursed employee expenses, professional dues, job search expenses and tax preparation fees, must exceed a combined 2 percent of adjusted gross income to be claimed; others, like gambling losses up to the amount of winnings, are not subject to that limit.

You cannot claim a credit and a deduction for the same expense. For example, you may be able to claim work-related tuition as a miscellaneous business expense deduction or as a lifetime learning credit, but not as both.

Eligibility and rules for tax credits and deductions can be extremely complicated and may change from year to year, so refer to the IRS website http://www.irs.gov'target="_blank">www.irs.gov for details. Or, for online links to background information on the credits and deductions mentioned above, read "Tax Credits and Deductions" at Practical Money Skills for Life, Visa Inc's free personal financial management program "_blank">www.practicalmoneyskills.com