Fabulous Financial Facts – Tax Strategies for Job Hunters

If you are one of the many who became unemployed or have had to move out of town to find a job, you may qualify for additional tax deductions for the year as long as you are searching for a job within your current occupation. You are still allowed to still take deductions even if you are temporarily working in another area just to make ends meet, but continue searching for a job in your field. Any job related expenses associated with preparing your resume can be deducted. You can also deduct mileage, parking fees and any additional childcare costs resulting from going on interviews. If you working with an employment or an outplacement agency and there are non-reimbursed expenses, you are probably eligible to take these deductions even if you don’t get the job — including airfare, hotel and car rental.

Keep track of what you do each day by writing down everything related to your job-hunt along with what money you spent — even if you don’t have an actual receipt in hand.

I have mentioned just a few of the deductions you might be eligible for. Check with a professional and see what other deductions you qualify for. By not checking, you could be leaving extra money on the table.

Thanks,

AZ

About Ann Zuraw

Ann Zuraw, the voice behind "Chicks, Chat and Change", is a Certified Financial Planner (CFP®), Chartered Financial Analyst (CFA®), and Certified Divorce Financial Analyst (CDFA™). If you have comments on this post contact Ann Zuraw

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