Did You Know Your Job Hunt Expenses May Be Tax-Deductible?

Many people are not aware that money spent when searching for work or to find a job is eligible for a tax deduction. Any reasonable and necessary expenses you incur when searching for a job may be written off or deducted on your tax returns filed for the year you have expenses in search of your next position.

There are three general exceptions to remember: 1) You cannot be looking for a job in a new occupation, 2) There was a substantial break between the ending of your last job and looking for a new one and 3) You are looking for a job for the first time. Allowable expenses can include fees for resume and cover letter preparation and any fees associated with distributing and posting your resume online. Other job search expenses include the cost to fax your resume to recruiters and hiring managers, travel expenses you encounter while interviewing, career coaching and outplacement services may be deductible. Tuition or training expenses for courses taken or Continuing Education Units needed for licensing, technical manuals and books or supplies including special tools necessary for employment in your field may be allowed.

Certain research and expenses to attend specialized training may also qualify. Attending any job related workshops, seminars or getting a degree in your current field may also be deductable. So be sure to keep those receipts. (Source: Career News / Examiner)