Monday, January 5, 2009

Tax Rules for the Unemployed in 2008, Part 2

For individuals who found themselves unemployed as a result of lay-offs, business closures, or any other unfortunate reason, there are still tax rules that you must be aware of if you are searching for a new job. The following is a list of some of the deductible costs that you may have incurred in your job search.

  • Mileage costs accrued on a personal vehicle while job hunting including trips to job interviews and to the unemployment office. Between January 1, 2008, and June 30, 2008, taxpayers can claim 50.5 cents per mile. Between July 1, 2008 and December 31, 2008, taxpayers can claim 58.5 cents per mile.

  • Costs for creating, printing and mailing a resume.

  • Costs for a headhunter or job placement agency. This applies to costs only paid by you. It does not apply to fees paid by the employer to the job placement agency.

  • Transportation costs such as a bus, taxi, train or plane to an interview.

  • Meals and lodging if out of town for an interview.

  • Parking and tolls when driving to an interview.

  • Long distance or mobile phone call charges directly associated with a job search.

  • Business research services.

  • Physical exam expenses if required by a potential employer.

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