Job Search Expenses
Compliments of Breedlove & Associates, written specially for Regarding Nannies
Can any of my job search expenses be taken off my income taxes?
There are several job search expenses that can be deducted if the expenses exceed 2% of your adjusted gross income. Some examples of job search expenses include:
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Amounts you spend for preparing and mailing copies of a resume to prospective employers if you are looking for a new job within the childcare industry.
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Travel expenses associated with looking for a new job in your present occupation. You can choose to use the standard mileage rate to figure your car expenses (currently $0.50 per mile).
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The cost and upkeep of work clothes if the following two requirements are met:
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You must wear them as a condition of your employment.
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The clothes are not suitable for everyday wear (i.e., the clothing must not be suitable for taking the place of your regular clothing).
Please note that there are some exceptions to deducting job search expenses. We encourage you to consult the expertise of a personal income tax professional to discuss your specific situation.
While we want to help nannies start off on the right foot when it comes to their taxes, please keep in mind that we are employment tax experts – we are not experts in the laws and procedures that surround personal income tax deductions. Nevertheless, we realize that many nannies have questions about their tax returns, so we hope that this will help point you in the right direction. For specific questions regarding your income taxes, we encourage you to contact a personal income tax professional.
Thank you so much for posting this! Nannies (and others) will find this very beneficial!
Patti w/ http://www.nannymall.com