Money Saving Tax Preparation Tips for the Unemployed

Each Spring Americans meticulously prepare their taxes in hopes of saving money when the government comes looking for it. If you are one of the many who have been affected by layoffs and cutbacks in the last year, it is especially important to prepare your taxes well in order to save as much money as possible during your time between jobs.

Many people do not realize there are several deductions that can be made for those currently looking for jobs. While taking advantage of these may require you to fill out a long tax form, it is advantageous for most people to take the time to do their taxes correctly, even if you have to seek professional help. Check out some of the following tips to help job seekers save some money this tax season:

If you have been between jobs and actively looking for work, many costs associated with the career search can be deducted from your income. These costs include resume preparation fees, mileage for travelling to interviews, postage, and even phone bills.

Costs associated with education can many times be deducted if you went back to school in order to become more desirable for a new job. You could be able to save as much as $3,000.

If you have recently been hired and are required to move to another location, your moving expenses are deductible if the new residence is at least 50 miles away from your old home.

For the most part, only job search and work-related expenses that exceed at least 2% of your adjusted gross income are eligible for deductions. But, if you are lucky enough to exceed that 2%, you could be saving a lot more money by following those tips.

For other tips and advice for finding your next new career, or if you would like to get ahead of the pack by using the services of a professional recruiter, visit http://www.donrichard.com, and contact these job placement specialists.