Expenses related search of a new job in the same line as travel in search of the job, printing and mailing resumes etc are called Job Hunting Expenses. IRS allows taxpayers to deduct Job Hunting Expenses on their federal tax return who are looking for a new job in the same line of work.
Job search expenses or Job Hunting Expenses can be claimed on Schedule A, of Itemized Deductions. These expenses are claimed as a miscellaneous deduction. As a taxpayer, you can deduct the total miscellaneous deductions that are more than 2 % of your AGI.
To know more about job search expenses, see IRS Publication 529, Miscellaneous Deductions.
We have created some useful tax calculators like Simple Tax Estimator, Itemized Deduction Calculator, 401k Calculator etc.
Now MAC operating system users can download the above templates in Apple’s Numbers Application also from the link below:
Federal Income Tax Apple Numbers Templates
These templates can help you easily calculate your federal income tax. These templates are free to download and easy to use with no limitations.
Disclaimer: Interpretation of the above topic is for education purpose and cannot be considered as a legal advice. It is highly recommendable to consult a CPA or tax consultant.
We thank our readers for liking, sharing and following us on different social media platforms.
If you have any queries please share in the comment section below. I will be more than happy to assist you.
To simplify the process, we have created a simple and easy UK VAT Taxable Turnover…
Every business has to register for VAT with HM Revenue and Customs if their VAT…
We have created the UK VAT Dual Currency Invoice excel template with predefined formulas that…
We have created a simple and easy UK VAT Purchase Register Excel Template with predefined…
We have created a simple and easy UK VAT Sales Register Excel Template with predefined…
We have created a ready to use UK VAT Progress Billing Invoice template in excel…