Deductions & credits

In general, any money you spend in your efforts to find a new job may qualify as a tax deduction. This includes:

• Costs of printing and mailing job-application materials, such as resumes and portfolios.
• Fees paid to employment agencies, outplacement agencies or "headhunters."
• Travel and transportation costs associated with visiting an area to research a job.

Be sure you save all receipts and account statements to support your deductions. You can only deduct expenses that are not reimbursed. For example, if you travel to a job interview, and the potential employer pays you back for your travel expenses, you can't deduct them.