Search
 

Taxpayers miss opportunity to claim work-related expenses

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.

By Jenny Ivy | Updated on April 13, 2012

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.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.