Take advantage of tax breaks when looking for employment
July/August 2010 Print this Article

If you are unemployed and looking for a new job within the same field of work, count your miles. That's because the miles you drive to and from a job interview, for instance, are tax deductible if you file a tax return that itemizes deductions. For tax year 2010, you can deduct 50 cents per mile for a job search. And mileage isn't the only tax break you'll find.

Other travel expenses may be tax deductible if you take the trip primarily to look for employment. These expenses might include airfare, hotel fares, car rentals and tolls. Don't forget that other job-hunting costs, such as employment agency fees and résumé costs, may be deductible if your miscellaneous deductions amount to 2% or more of your adjusted gross income. The latter can include the costs of having a résumé written and produced and the costs to print it. Talk to a tax professional to learn more about these and other potential tax breaks when you're looking for work.

FINRA Reference #FR2010-0331-0157/E 05/28/10

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