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5 best tax deductions for salaried professionals? The tax season is here, and if you're a salaried professional, you must know what deductions are available. Here are the top five tax deductions for salaried professionals: 1. State income taxes. You can deduct this as a business expense if your employer does not reimburse you for state income taxes. 2. Health insurance premiums. If your employer doesn't cover the cost of your health insurance premiums, you can deduct this as a business expense. 3. Student loan interest payments or other qualified education expenses for yourself or your spouse/dependents (up to $2,500 per person). You can use this deduction if you itemize your deductions on Schedule A of Form 1040. 4. Job search expenses associated with looking for a new job in your current field (up to $5,250 per year). This deduction is only available if you itemize your deductions on Schedule A of Form 1040 and meet certain other requirements (such as being out of work for at least 40 weeks during the year). For more information on job search expenses, see Publication 529 (PDF), Tax Savings for Job Seekers. 5. Moving expenses if you moved because of a new job or business (up to $2,500 per person). You can deduct moving expenses as long as your new job location is at least 50 miles away from your former home and the move is due to a change in employment, the start of self-employment, or starting work at least 39 weeks out of the year in a remote area. CTA - So visit ht...