The Average Job Search Expenses
In times of record unemployment and a slow-to-recover recession, job searches are commonplace. For the unemployed, spending money to find a job is a necessary evil. Depending on the industry, job searches can run into the hundreds--even thousands--of dollars. But the good news is, many expenses related to job searches are deductible.
-
Deductible Expenses
-
Many job seekers employ a professional recruiter or employment agency to help land a job. These costs, as well as the services of a resume coach, are deductible. If you take the more traditional approach of printing your own resumes and using U.S. postage, keep track of these costs, as they are also deductible.
IRS Guideline
-
According to the Internal Revenue Service (IRS), certain expenses and circumstances can lead to tax deductions, whether your job search results in a new job or not. Deductions are allowed, however, only when you are looking for a job in your current industry or occupation.
Mileage
-
Whether you are searching for a job in your hometown or in another state, standard mileage rates apply. The IRS rate for 1999 is 55 cents per mile.
Travel Expenses
-
If you must travel to an interview, keep track of airfare and other transportation costs. Along with meals, cab fare and the hotel bill, these are deductible.
New Graduates
-
If you are a recent high school or college graduate searching for your first job, your expenses are likely not deductible because your future job falls under "new occupation."
-
