When you finally get that fabulous new job your have been looking for, take a moment to consider how you can be reimbursed for the expenses you incurred while on the hunt. The following are job search deductible expenses, summarized directly from IRS Publication 529:
The cost of typing, printing and mailing copies of a resume can often add up, especially if you don’t have a home computer and printer available. Did you know that you can deduct the amounts you spend on your resume? If you are looking for a new job in your present occupation, this is a tax deduction.
Employment and Outplacement Agency Fees
Did you use an employment agengy and pay their fees? You can deduct employment and outplacement agency fees paid while looking for a job in your present occupation. However, if your new employer pays you back forÂ these fees, you must include the amount you receive in your tax statement (gross income up to the amount of your tax benefit in the earlier year). Also, if your employer pays the fees directly to the employment agency, youÂ should not include them in your gross income.
Travel and Transportation Expenses
If you travel to an area and, while there, you look for a new job in your present occupation, you may be able to deduct travel expenses to and from the area. You can deduct the travel expenses if the trip is primarily to look for a new job. Even if you cannot deduct the travel expenses to and from an area, you can deduct the expenses of looking for a new job in your present occupation while in the area.
Keep those phone records handy! Local and long distance phone calls to prospective employers are also deductible. If you conduct lengthy phone interviews with a prospective employer, this deduction could help!
The information in this blog posting is from United States government resources online. Contact the Internal Revenue Service or seek advise from a trusted accountant if you have any specific questions.Â This information is not legal advice and is for guidance only.