CPA Rockville – Tax Tips for Job Seekers

Posted on: March 24th, 2010 by

CPA Rockville – Looking for employment can become very expensive.  From printing resumes and hiring job coaches, to flying to interviews, its all money out of your pocket.  You practically need a job to afford to look for one.

Not every workplace hopeful qualifies for these deductions though.  You are only eligible if you’re seeking a job in your present field of work, you aren’t looking for your first job, and you aren’t entering the job market after a “substantial” period of unemployment.  (You may need to speak to a tax adviser in Rockville as the IRS’s definition of “substantial” is considered a gray area in the tax code)Rockville, Maryland - Job Interview

To claim job search expenses, you just need to itemize them on your tax return.  If you travel across the country for an interview, you can write off the plane ticket or gas costs.  If you have a phone interview, you can deduct the cost of the call.  If you decide to place advertisements or hire a head hunter to assist in your search for employment, each of these items, including the copies you make of your resume, are allowable deductions.  The general rule of thumb when determining these deductions is that if what you buy can be used for other purposes, you can’t deduct it as a job search expense.  What qualifies as a deduction, however, can still be a much more complicated process, so its always a good idea to go to a tax expert in Rockville, Maryland with any questions.



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