Did you accumulate expenses searching for a new job in 2014? Did you use your car while helping out at a soup kitchen? Are you a self-employed person who paid Medicare premiums out of your pocket? If so, you might be eligible for one of the many tax deductions that people often fail to take. The New Jersey Society of Certified Public Accountants (NJCPA) provides details on frequently missed deductions that you should not overlook as you prepare to file your taxes this year.
#1: Job Search Costs
If you spent money creating and mailing résumés, traveling to interviews or paying an employment agency, you may be able to deduct those costs if you were seeking a job in a field related to your current job. It may also be possible to deduct the costs of moving to take a new job, depending on how far your new workplace is from your old home and how long you work at the new job.
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