Tax Deductible Job Search Expenses
With just a few days to go before the April 15 deadline to file income taxes, many are scrambling to get their returns done on time and find some last minute deductions. If you are currently in a job search, you may be overlooking deductions that you are entitled to.
According to a recent survey by The Tax Institute, taxpayers are confused about what qualifies as job search expenses. The survey showed that 40 percent of taxpayers didn't know they could deduct transportation expenses or the cost of help with a resume. Another 17 percent mistakenly believed they could deduct wardrobe purchases.