Job Search, a Tax-Deduction?

I hear from many people who are out of work for the first time. Many feel guilty or shy about getting unemployment payouts.  Think the banks, AIG or GM are shy?

Remember two things: You paid for this benefit, and it may be tax-deductible. [Ed: Job search expense maybe tax deductible, the UI benefit is taxable.]

File for unemployment! It's quick and it's easy. Some states even allow you to file by phone. Following is where you go to find the office in your state.  The U.S. Department of Labor can help you out.

And, the IRS will allow you to write off a chunk of your job search.  You can deduct certain expenses incurred in looking for a new job in your present occupation, even if you do not get a new job. According to IRS tax regulations, you can deduct amounts you spend for typing, printing, and mailing your job applications. Check this out for job search tax tips.

The tax deduction won't help pay next week's rent but it will help you recover more quickly when you do land that cool job.

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