BUSINESS
06/01/2010 05:12 am ET | Updated May 25, 2011

TIPS: How To Save The Most On Your Taxes (VIDEO)

Roni Deutch, tax attorney and author of "Tax Lady's Guide to Beating the IRS," joined Matt Lauer on the "Today Show" this morning to offer some tips on how to save the most you can when filing your tax returns.

One tip which undoubtedly will help more people this year considering the high rate of unemployment in 2009 is that while jobless benefits are indeed considered taxable income by the IRS, the first $2,400 is tax free.

With more and more people moving back into their parents' home, and parents taking on increasing dependents, multi-generational households are elgibile for tax exemptions. For example, if you take in a family member, you can claim him as a personal exemption.

Watch the interview for more tips.

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