Monday, February 23, 2009

Job Search Tax Deductions

It's tax time. With Uncle Sam's hand outstretched, we're all trying to hang on to as much of our earnings as possible. Did you know that some aspects of your job search might be tax deductible?

In What You Should Know About Job Seeking and Your Taxes, Sonja Felder explains that items such as the following might be deductible if used for your job search:
  • Professional fees paid to resume writers and career counselors
  • Costs related to writing your own resume, including paper
  • Job search related phone and Internet costs
  • Travel expenses
  • Relocation

Felder also tells us items such as clothing and shoes for your job interview are not tax deductible. What a shame! That kind of deduction could have helped stimulate the economy.

To understand what job search expenses you can and cannot deduct on your tax returns, ask a professional tax preparer.

No comments: