Your Hunt May Be Tax Deductible!

You may be able to claim your expenses in your job search as itemized deductions. This includes costs related to the preparation of resumes and cover letters. The Internal Revenue Service has stated:

"Job search expenses are deductions that are subject to the 2% of your adjusted gross income limit. You can deduct certain expenses you have in looking for a new job in your present occupation, even if you do not get a new job. You cannot deduct these expenses if: (1) You are looking for a new job in a new occupation, or (2) There was a substantial break between the ending of your last job and your looking for a new one. You cannot deduct your expenses if you are seeking employment for the first time. Finally, you can deduct amounts you spend for typing, printing, and mailing copies of a resume to prospective employers if you are looking for a new job in your present occupation."

You can find the rest of this text at http://www.irs.gov/prod/forms_pubs/pubs/p52901.htm

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