Job related search tax deductions
Job related search tax deductions
Job related search tax deductions for individuals!
Are Job Search Expenses Tax Deductible?
At a Glance
- Job search expenses were previously deductible, but the Tax Cuts and Jobs Act (TCJA) changed the rules.
- Miscellaneous job search expenses are no longer deductible on federal tax returns.
- Self-employed individuals may still be able to deduct job search expenses related to their business.
- Some states may allow for job search expense deductions on state income tax returns.
Job hunting can be a costly endeavor, often involving expenses such as resume preparation services, travel for interviews, and fees for employment agencies.
Prior to , many of these job search expenses were potentially deductible on a taxpayer&#;s federal income tax return. However, with the implementation of the Tax Cuts and Jobs Act (TCJA) in , the rules regarding the deductibility of employment search expenses have changed.
This article will address the current state of job search expense deductions and what taxpayers need to know.