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Job Hunting Costs Are Tax Deductible
Posted By Jim On 02/05/2009 @ 12:10 pm In Taxes | 5 Comments
Did you know that you may be able to deduct the cost of looking for a job from your taxes?
You can. They’re considered miscellaneous deductions and governed by IRS Publication 529 . You can deduct certain expenses as a miscellaneous itemized deduction on your Schedule A if they exceed 2% of your adjusted gross income. You only deduct the amount that is over that 2% amount.
“Job Search Expenses” is one of the eligible categories and they count as long as:
The costs that you can deduct include:
There are plenty more, such as legal fees, licensing fees, etc. that I haven’t touched on (I wanted to restrict the list to job search related deductions) but the Publication 529 covers them all.
It’s difficult looking for a job, it’s nice that Uncle Sam will give you a little bit of assistance along the way.
(Photo: niallkennedy )
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 IRS Publication 529: http://www.irs.gov/publications/p529/ar02.html
 niallkennedy: http://www.flickr.com/photos/niallkennedy/362062878/sizes/m/
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