According to Money magazine, the IRS offers people many ways to reduce your taxable income. Here are 5 of the lesser known deductions:

Home Renovation Deduction

If you make improvements to your home for medical purposes (wheelchair ramps, lowering cabinets for accessibility) you can deduct those expenses as medical expenses.

Hobby Expenses

You can deduct “ordinary and necessary” expenses incurred from a hobby. However, if you suffer losses due to a hobby, you cannot deduct the loss from your income.

Donating Your Time and Talents

Yes, it pays to give back! If you do charity work and use your car to get there, you can deduct the cost of gas and oil. And you can deduct a standard mileage rate of 14 cents per mile. If you wear uniforms, for example, to volunteer at a hospital, you can deduct the cost of purchasing and maintaining those uniforms.

Job Search Expenses

If you are are searching for a job in the same line of work as your current or most recent job, you can deduct some of those expenses: 56 cents per mile, parking, tolls, cab fares, preparing, printing and mailing your resume, ad placement, phone expenses, employment agency fees.

Moving Expenses

There are some distance and time limits that the IRS sets, but you may qualify for moving expenses for a new job. Those expenses can be mileage at a rate of 23 cents per mile, cost of moving your belongings to your new home and lodging for yourself and family.