Resume paper, trips to job interviews, even steel-toe boots can all be claimed as a work-related expense on tax filings. Yet only one in five taxpayers say they include it, according to a survey from Liberty Tax Service and CareerBuilder. Only 7 percent have claimed job search expenses.
It's a missed opportunity for a higher tax refund, experts at these companies say. "Documenting the costs of a job search may deliver a tax break whether it results in a new position or not. Job search expenses may be deductible when, totaled with employee expenses and other miscellaneous deductions, they exceed 2 percent of adjusted gross income," said John Hewitt, CEO of Liberty Tax Service.
Other
- Professional resume-writing service – 78 percent
- Resume paper – 84 percent
- Travel (parking, tolls) to and from job interviews – 57 percent
- Relocation to another city or state for a job (moving trucks, travel, temporary housing, etc) – 38 percent
When asked if they thought certain job search expenses would qualify for tax refunds, at least three-out-of-four workers were not aware that you may be able to claim professional resume-writing services and resume paper. While more than half didn't know travel to and from job interviews may be claimed, the majority of workers were aware that costs associated with relocating for a job may be tax deductible.
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