Tuesday, April 12, 2011

I found this particularly interesting. If you do your own taxes, there is a provision for job-seekers to deduct the expense of looking for a job from your taxes. This is particularly good in these times when gas prices are hitting $4.00/gal in many areas of the country. Why should everything have to hit your wallet?

So, you can deduct your job search expenses. Make sure that you keep accurate records, like mileage driven, stamp receipts, etc. to get every deduction possible.

But... did you know that if you were EMPLOYED and LOOKING for a new job, you could also deduct job-seeker expenses? This is a copy and post to help you in the future from http://Hired911.com to help you.

Looking for a new job not only takes time, it also can cut into your bank account. A sheet of stamps, $8.80. Quality paper for your printer, $9. Printer ink, $16. And mileage to your job interviews. Miniscule expenses can add up over time. Fortunately, the IRS allows some job-search expenses as deductions on your income tax statement -- even when you're job hunting while still employed. If you don't land a new job, you can still declare these expenses. However, you can not deduct job-search expenses if you are a new graduate looking for a first job. Read more.

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