4 Key Tax Tips for Job Seekers

4 Key Tax Tips for Job Seekers4 Key Tax Tips for Job SeekersTax season is upon us and as job seekers there are certain deductions you may be entitled to. The below tax tips for job seekers include deductions for fees and expenses related to your job search, as well as few other deductions you may be eligible for.While these tax tips for job seekers are usually universal, it is important to check that you qualify under the guidelines set out by the IRS. Depending on the services used and the specifics of your job search, some deductions may not be applicable. Read on to learn moreHere are a few key tax tips for job seekersHeres what you can deduct.You can deduct employment and outplacement agency fees that were accrued in your job search, and that helped you land your new job. However, if your employer has paid you back for these, they arent deductibleIf you traveled to perform job search activities, associated travel expenses are deductible. Be careful to only claim amounts used spec ifically for the job search and dont include anything personal you did to fill the gaps in time.Creating and sending resumes, as well as job search-related phones calls are tax deductible.In addition to travel expenses, if you moved for your new job, you may have tax deductible moving expenses. However, to qualify for this, your new job must be 50 miles farther away from your place of residence than your old job.And heres when you cant take job search tax deductions.In relation to the above tax deductions, the IRS outlines when job seekers are not eligible, which includesIf your job search is for a job in a new occupation.If this is your first job search.If there was a substantial and lengthy time lapse between your jobs.Have you collected unemployment?A big surprise some job seekers get at tax time deals with unemployment. Remember that all unemployment you collected between your job searches is considered taxable income.Did you freelance to supplement your income?If you were a fre elancer while job searching, you might be eligible for a range of home office deductions. These include direct and indirect expenses of operating a business out of your home.Before filing your taxes, make sure to check out the guidance offered by the IRS on what is and isnt deductible. Its also good to note that many of these deductions will require documentation, so make sure to collect and organize any receipts that you have.Readers, what other tax tips for job seekers would you add? Share your tips with us belowDisclaimerThis article provides only general information abouttaxesand does not constitute legal ortaxadvice. You should not act or refrain from acting based on this article, or any related information on, without first consulting with a legal ortaxprofessional.