Friday, April 06, 2007

Job Seeker Tax Deductions. Don't Miss Out!

Staff Writer, The Career News
VAN NUYS, CA -- You can't escape the tax man, even if you're unemployed. But you can save a few bucks on taxes related to your job search, according to Aran Dokovna, Partner at Saxe, Roth, Dokovna, Schwartz & Lynskey, a Van Nuys California public accounting firm specializing in tax preparation and planning.

"Regardless of whether you get a new job or not, most of the costs associated with job searching can be deducted", said Dokovna. Deductible expenses include: resume-writing services and software, employment coaching services, resume printing, mailing, and other resume posting and distribution service expenses. "You can also deduct any travel expenses to and from interviews including parking, gasoline, lodging, airfare or overnight meals," Dokovna said. "However these job-hunting expenses fall under the category of "miscellaneous deductions" and must exceed 2 percent of your adjusted gross income to be deductible," continued Dokovna.

Taxpayers are also allowed to deduct medical expenses that exceed 7.5 percent of their adjusted gross income. "Health insurance is included in the definition of medical expenses and can be a significant deduction for job seekers who had to pay for health insurance while unemployed," Dokovna said. For more information on job seeking deductions, reference the section on "miscellaneous deductions" in IRS Publication 17 or contact a professional tax planner.

This article is from the February 5, 2007 issue of The Career News, an e-newsletter. It is posted here in full with permission from The Career News.

1 comment:

Jay said...


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