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Tuesday, February 8, 2011

What tax deductions do I get for being unemployed?

Dear Financial Handyman: I have been unemployed for over 8 months. I was wondering what tax deductions are available for me?  Chris


Well Chris, first I am sorry to here about your unemployment. There are a few tax deductions for job hunters like yourself. I have listed a few below:



  1. Employment agency fees: If in a later year your new employer repays your agency fees, you must include the amount in your income up to the amount of the deduction you claimed earlier. If your employer pays fees directly to the agency, you don't have to include them in your income.
  2. Resume preparation: typing and printing, postage, long-distance charges, advertising, and photographs required for your resume.
  3. Travel: airfare, mileage (some automobile expenses have been approved), meals (based on either actual expenses or standard federal per diem rates) and lodging (actual expenses only).

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