Doing your taxes can be one of the best or worst times of the year for most folks! The adage goes that "nothing is certain except for death and taxes" certainly is something that everyone that receives a paycheck has felt from time to time. But wait...help is on the way! The Government has for years allowed certain job search expenses to be deductible. While running these expenses by your accountant is always a smart idea, costs you incurred for a job search may meet the IRS guidelines for deductible expenses. IRS Publication 529 is pretty informative of the expenses that are deductible when searching for a job in your current field...even if you don't get the new job!
Some of the tools that may be Free include:
Resume Creation- One of the biggest challenges of changing jobs can be creating a resume. If you could hire a professional, for free it might not be as insurmountable as you initially think...Costs associated with preparing, printing, mailing your resume may be tax deductible!
Outplacement Agency Fees-While many employers these days pony up the costs associated with professional service providers trained to aid you in transitioning from your job into a new assignment, there are still cases where it is on you. If you decide to hire a career coach, your fee's paid to them may apply to a tax deduction!
Travel Expenses- Travel costs associated with a search in the same field may qualify, if the primary purpose is to search for a job in the same occupation. Keep in mind, that even if the primary purpose is not a job search, certain job search expenses that are incurred while on a trip may be applied so keep your receipts!
Phone Calls- Cellphone or land line expenses associated with searching for a new employer in the same job may be a write off!
In the end, you must consult your tax advisor to be certain which deductions apply but be sure of one thing, the investment into your job search is an investment in your future...and it may be less expenses than you think...better yet it could be FREE!!!!
Contact a career coach today at http://www.career-forward.com/ to see how we can help you in your job transition and career search, the first step to changing your future is there.
