June 15, 2016
Tax Tip: Rules for Home Office Deductions

Searching for a Job? You Can Deduct Certain Expenses

“Searching for a Job?  You Can Deduct Certain Expenses”, If you’re on the lookout for a new job this summer, you might be able to deduct some search-related expenses on your taxes. Here’s what the IRS wants you to know: Deduct Certain Expenses You can only deduct expenses for a job search relating to your current occupation. Unfortunately, you cannot deduct job search expenses if there is a “substantial break” between your last job and your job search or if you are looking for your first job. You cannot deduct expenses that are reimbursed by an employer or other party. You can deduct fees paid to employment and job placement agencies and the costs relating to preparing and mailing your résumé to prospective employers, including professional proofing and editing. If you travel to an interview or other search-related activity, you can deduct those expenses, but only if the primary purpose […]