Quantcast

How to get tax breaks for job hunting

Published: Wednesday, March 14 2012 1:55 p.m. MDT

shutterstock.com

Enlarge photo»

The unemployed may finally get a break this tax season.

Those who are out of work are able to deduct a number of expenses, including costs for traveling to interviews and printing resumes, according to CNN Money. Tax perks can also help the jobless if they decide to become self-employed or freelance.

The IRS is also offering a “grace period,” allowing taxpayers extra time to pay their tax bills.

"There's no question, most people would rather have a job than have to look for tax breaks for being unemployed," Mark Luscombe, principal federal tax analyst at accounting firm CCH, told CNN Money. "But for those facing an extended period of unemployment, they can benefit from knowing the steps to take to lower their tax bill."

Not everything is fair game when it comes to tax deductions.

The IRS red flags deductions like manicures, clothes and makeup.

One thing to follow is that if it can’t be used for the purpose of the job hunt, then it can’t be deducted, Gorden Ulen, a Danvers, Mass.-based CPA, told CNN Money.

EMAIL: jferguson@desnews.com

TWITTER: @joeyferguson

Get The Deseret News Everywhere

Subscribe

Mobile

RSS