There are very few benefits of being unemployed. When it comes to tax season it might seem like the only good thing about not having a career is you don’t have to go through the tedious process of filing taxes. However, there are now some unemployment perks you might not want to miss out on.
With or without a job, you are still paying taxes. Your job is looking for a job, so there are some deductions you can make from your search. For example, you can deduct the following:
- Job-related search expenses
- Continuing-education courses
- Moving expenses if you had to relocate cities
- Home office and meal costs if you started to work from home
- Headhunter/career coach fees
- Cost of printing, photocopying/creating resumes
- Cost of travel to and from job interviews (airline tickets, gas, buses, etc.)
To take advantage of these deductions simply itemize them on your tax return.
However, there is a catch. These deductions aren’t for everyone. If you are completely changing careers, just graduated high school, or are returning to work after an extended period of time (like maternity leave or an illness) these deductions cannot be applied to you.