Job Hunting? Track your Expenses. Tax Tip of the Week

Looking for a new job? Expenses related to job seeking are potentially deductible. Here is what you need to know:

• Expenses must be spent on a job search in your current occupation. You may not deduct expenses if changing occupations.
• Outplacement fees are eligible expenses.
• Amounts paid for mailing and preparing résumés are included.
• Travel expenses, including mileage, should be recorded.
• You cannot deduct expenses if you are looking for your first job.
• This is a miscellaneous deduction, so you must be able to itemize your deductions.

Good luck in your job search!As always, call us with any questions. In Dayton, call 937-436-3133 and in Xenia, call 937-372-3504. Or visit www.bradstreetcpas.com....until next week.