Tax Musings of a Burbank CPA: Job Hunting Expenses

If you have started looking for employment in your current profession, remember that some or all of the expenses of job hunting may be deductible on your income taxes.  See this IRS tip on deducting job hunting expenses:

http://content.govdelivery.com/accounts/USIRS/bulletins/c7b11b?reqfrom=share

Remember that job hunting expenses for a new profession are not deductible – the deductible expenses are for job search in your current line of work.  The job hunting expenses are deductible as miscellaneous expenses on Schedule A and are reduced by 2 percent of your adjusted gross income.  Let your preparer know what the expenses are - he/she can help you figure the deductions and tax savings. 

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