Deductions and Write-Offs

Home Equity interest is deductible as qualified mortgage interest and deductible as an Itemized deduction on Schedule A.
It is a deduction for regular tax purposes no matter how the proceeds are used.

Generally, contributions to Foreign organizations other than in Canada, Mexico and Israel charities are not deductible.

Bonus depreciation is an accelerated deduction in the first year purchase of an asset. It is an additional incentive to purchase business assets and considered a measure of relief for small businesses that want to buy additional equipment.
in 2013, 50% is allowed.

Common expenses are:
Work clothes suitable for street wear
Commuting expenses
Credit card fees or Interest
Club dues
Divorce Legal fees
Political contributions
Cost of entertaining friends
Telephone expenses of first main line
Tax exempt income expenses
Funeral expenses
Gambling losses in excess of gambling winnings
Hobby expenses in excess of hobby income
Homeowner's association assessments
Pet and animal expenses
Residence repairs and improvements
Residence Loss on Sale
Life Insurance
Parking tickets and fines

Common deductions are:
Employee business expenses including travel, 50% of meals & entertainment, phone, small tools, supplies, professional subscriptions and books, home office deductions, depreciation on business use of auto's and equipment, small tools
Safety equipment such as hard hats, gloves, steel tipped boots, goggles,
Educational expenses not claimed as a credit
Educational expenses not claimed as a credit
Tax preparation and tax assistance fees
Union and professional dues
Job hunting
Tax preparation and tax assistance fees
Educational expenses not claimed as a credit
Seminar and Conferences that are business related
Appraisal fees on charitable donations
Credit card convenience fee for maintaining investments
Investment expenses
SEP,Simple,IRA custodial fees paid with funds outside the account
Legal fees for collecting taxable income
Loss on deposits in a bankrupt financial institution
Medical exams required by employers
Safe deposit box fees
Trust administration fees
Uniform purchase and maintenance if required and not suitable for street wear

For qualified property acquired and placed in service in 2016, a 50% bonus first-year depreciation allowance applies under Code Sec. 168(k).,

Every taxpayer is entitled to this deduction for themselves, spouse and each of their dependents. For the year 2016 there is a phase-out of this deduction.
The Phase-outs are:Single $259,400 to $381,900
MFJ and surviving spouses $311,300 to $433,800
MFS $155,650 to $216,900
Head of Households $285,350 to 407,850.

Business       56.5 cents per mile
Charitable       14 cents per mile
Medical and Moving     24 cents per mile

If Points qualify as mortgage interest they are deducted over the term of the lease unless they are paid as part of the purchase of your principal residence. Refinanced points are amortized over the life of the mortgage.