by Beverly Aarons
20. July 2009 08:47
If you're working hard on your job search this summer keep meticulous records, because you may be able to write-off some of those expenses on your 2009 taxes. Here's what you need to know:
1. You can write-off the expenses associated with your job search, but the job search must be for a position in your current occupation. If you're changing careers, you won't qualify for the IRS job search deductions.
2. If you are making copies of your resume/cover letter and mailing them out to employers, you may deduct those expenses. Keep copies of the receipt for photocopying and the money you pay for postage.
3. Got travel plans? Many job seekers looking for work are searching nationally, requiring them to spend on transportation and lodging which can be deducted from taxes. Travel expenses are deductible only if the majority of your time is spent on job search related activities during your trip.
4. You may also deduct employment agency fees that you pay while searching for a job in your current occupation.
5. Unfortunately, if you are searching for a job for the first time these job search deductions are not available.
To find out more information about deducting job search expenses visit www.irs.gov and search for the IRS Publication 529, Miscellaneous Deductions.