April 15 is one of the most dreaded times of the year. Reams of paperwork stacked on the desk, tax schedules, receipts, W-2s, 1040s, 1099s – hours spent pouring over numbers and figures. However, tax time can also mean money in the pocket for job seekers whether or not they are currently employed.
When Can a Job Seeker Deduct Search Expenses?
Those seeking gainful employment in their present line of work can claim expenses related to the hunt for a new position. However, job seekers cannot take the deduction if looking for work in a new occupation, if there was a longer gap between jobs, or if the candidate has just leapt into the labor market for the first time.