Get Tax Break for Job Search/Transfer

If you are searching for a job, you can deduct from your taxes the fees that you pay to employment and/or consulting agencies. Also deductible are travel expenses if the trip is primarily to look for a new job.

That  includes traveling to attend the interview ans other job search related travel. To claim the travel expenses have the approximate distance you traveled. IRS provides guidelines on how much to deduct per mine driven.

Also, any hotel and food expense you incurred during travel can be also deductible in your income tax returns.

Relocation Expenses

Relocation expenses like – moving expenses renting uhaul or truck for self move or professional mover service expenses, food and travel expenses are also tax deductible. But, only if you are not paid for relocation.

If company is going to pay for relocation, then you can deduct the expenes above what relocation paid. If your moving expense to new job is $7,000 and company paid only $5,000, then $2000 can be deducted from while filing income tax.

For more information refer to IRS publication 529.

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