Tax time is just around the
corner. If you’re one of the many job seekers who have been unemployed for a at
least 6 months you may be wondering if you will still need to file taxes in
2009. The answer is yes. Even if
you were unemployed in 2008, you may still owe taxes if you received any type
of income in 2008. For job seekers
who received unemployment insurance benefits, the IRS will tax all of that
income after the first $2400. It’s
not fair, but some job seekers find that they owe taxes even if they didn’t
work a job.
There are ways to reduce your
tax liability. Under certain circumstances the IRS allows job seekers to write
off expenses related to their job search including but not limited to
photocopying, resume services, educational services, travel expenses,
employment agency fees and postage costs. If you followed our tips from earlier
this year, you have kept all of your receipts related to your job search and
can calculate your job search expenses with the help of an account. For first time job seekers, job seekers
changing careers and those who took a long break between losing their last job
and beginning a new job search these tax 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.