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Tax Deductions for Job Hunters
Claim job hunting expenses such as resume writing or resume distribution through services like JobsByfax on your tax return
The first step in determining what you can deduct is to make certain you fall into the “eligible”
• Be seeking a new job, but in the same field. If you are going in a completely different direction, the tax breaks do not apply.
• Not have been out of work for a “substantial break”. For example, stay-at-home moms who choose to return to work after several years off cannot use these deductions when they want to go back into the workplace.
• Not be a recent graduate. If it’s your first job out of school, these deductions do not apply.
If you’ve determined that you do qualify for job search tax deductions, following are some expenses that you can deduct:
• Employment agency fees
• Resume writing services
• Cost of printing and mailing cover letters and resumes
• Long distance phone calls
• Travel expenses if you are job hunting in other cities
• Resume distribution from services like JobsByFax
It’s not as simple as just deducting the expenses from your income... Uncle Sam never makes it that easy! The job hunting expenses must be itemized and the total must exceed 2% of your adjusted gross income. You can only deduct the amount over 2%. And, as always with itemized tax deductions, keep track of all receipts as back-up in case of an audit.
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JobsByFax is a resume distribution service by fax. Job hunters select the types of companies & regional area they want to target then upload their resume and cover letter. JobsByFax charges a fee to deliver the resume directly to employers that match.