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Deductions for 2017 Taxes, Specific to Job Seekers:

In 2018, tax day falls on April 17th (the 15th is Sunday and the 16th is Emancipation Day). That allows for 48 extra hours to figure out your taxes. Here are THREE important deductions that specifically help job seekers:

Did you look for a new job in 2017?

As long as you searched for the same type of job you last held, your job search expenses are deductible…even if you didn’t land a job in 2017. These expenses include:

  • Car transportation ($.535 per mile, and tolls and parking)
  • Food and lodging for out-of-town interviews
  • Taxis and other transportation fare
  • Professional fees such as industry association annual dues, networking group dues, and online subscription/membership fees (LinkedIn premium)
  • ResuMAYDAY’s services, such as resume writing and coaching, and the services of a career counselor
  • Costs of printing business cards, postage and other self-marketing fees

(Note: If you voluntarily changed your career industry or this is your FIRST job, these deductions DO NOT APPLY TO YOU.)
(2nd Note: The above job search deductions were eliminated in the new tax law. 2017 is the last year to claim them.)

Did you move more than 50 miles away for a job?

Deduct those expenses! Even if you moved for your first job or for a voluntary career transition, those fees can be deducted.

Back to School…

Rodney Dangerfield did it, and so can you. The Lifetime Learning Credit offsets higher education costs for courses relating to skills improvement. Eligible institutions include 4-year colleges, community colleges, and vocational schools. (The IRS links to a list, and advises you to check directly with the school.) The tuition credit maxes out at $2,000 a year with specific income limits. (Sadly, the IRS won’t give you extra deductions for mastering the Triple Lindy.)

This information was provided by ResuMAYDAY for informational purposes only. It does not replace professional tax advisement. To find out if these deductions and credits apply to you, see www.irs.gov and talk to your tax accountant.

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If you’ll be interviewing soon…read this!

I recently spoke with writer, Michele Vrouvas, about job interviews. We discussed insider tips and secrets, things that HR people look for in candidates and some of the ‘unwritten rules’. Our chat became the foundation of this article for Study.com, a site that provides high level learningtools for students and teachers~

 

 

 

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2017 Hiring Trends

I was recently asked by another career professional if there are any ‘trends’ that candidates should be aware of in this current employment market. After considering the question carefully, two things come to mind:trends

One trend that won’t be going away anytime soon is that recruiting and interviewing stages have become much more robust – and much more exhausting (for candidates). It’s expensive to bring on a new employee. Employers no longer have unlimited funds to correct a mistake. For this reason, candidates are sitting through more rounds of interviews and employers are taking extra measures to ensure the candidate will be a good fit. Some of these measures are taken before that candidate even comes in for the interview! Candidates can expect their social media accounts will be reviewed, references will be checked and more filters will be put in place. But the good news is that once you’ve been offered a job, you’ve earned bragging rights!

Another trend is that more employers now find their candidates through in-person and social networking. Employers aren’t publicly posting as many jobs like they used to (unless they are required to, by law). For the past few years it was alright if a candidate wasn’t on LinkedIn, or had a ‘skeletal’ LinkedIn profile. That’s no longer acceptable. Having a sub-par LinkedIn profile or a non-existent profile is now just as damaging as having a sub-par resume.

These are the two biggest trends in hiring that I believe are here for the long run.

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ResuMAYDAY’s Holiday Gift Guide for Job Seekers

holidayIf you have a job seeker in your life, consider giving that person a holiday gift that will boost their job search. The ResuMAYDAY team put their heads together and came up with ideas for great gifts that will work for any job seeker, from entry-level to executive:
1. Gift the services of a career coach or resume professional. While this may seem a bit self-promotional, the difference between a DIY resume and a professionally written resume can make all the difference in the world. Here’s a tip: offer to gift a specific amount, without choosing the company for your job seeker. Working with a resume writer or coach is a very personal choice and should be directed by the person who will use those services. Let the job seeker ‘interview’ a few service providers to make sure the one that ‘best fits’ is chosen and to ensure the job seeker is ready and motivated to use these services.

2. Make introductions to influential people. Invite your job seeker to a networking coffee or after-hours cocktail with hiring managers, human resource people or recruiters that are already in your network. Sharing your connections in such a personal way is a generous, low-cost, high-impact gift that not many people think of doing.

3. Pay the annual dues to an important business association or professional group. Memberships are crucial to connecting with industry experts and potential employers.

4. Pay for an enhanced LinkedIn membership for 3 or 6 months. A paid LinkedIn membership will give your job seeker more and easier access to recruiters and employers. Likewise, it ensures that their profile is easily accessible to recruiters and employers.

5. A good book never goes out of style. Every year, ‘What Color is Your Parachute?’ comes out with an updated print version and online supplement. Our clients find this one to be very helpful. Another good one is ‘StrengthsFinder 2.0′. It’s chock-full of great information. But these aren’t the only two out there. Take a look at career/job search books at your favorite bookseller and read the reviews. You’re sure to find something to help point your job seeker in the right direction, and these books don’t cost a lot of money.

6. Consider gifting something wearable, such as a power tie or pretty bracelet. This can be the perfect token to show your support, and boost your job seeker’s confidence in an interview.

7. Lastly, pick a gift that rewards their hard work. Finding a job IS a job, if you’re doing it right. Gift your job seeker with dinner and a movie, a manicure or something else that brings a bit of fun and relaxation to their schedule.

Here’s a news clip of Lauren Milligan, from ResuMAYDAY, DISCUSSING THESE IDEAS with Ray Cortopassi over at Fox 59 in Indianapolis. Is Ray on the Naughty or Nice list? Find out!

 

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Job Hunting and Your Taxes

Spring is right around the corner, and Uncle Sam is lurking there, too. If you spent any time in 2014 searching for a job, I hope you kept track of money spent on that job search. Not many people know that you can deduct job search costs as miscellaneous expenses (if you itemize). It’s important to note that qualifying expenses can be written off even if you didn’t intreceiptserview for, or were hired for a new job, as long as you were looking to stay in the same role or industry.
According to www.IRS.gov, Publication 529, these expenses can be deducted to the extent that your total miscellaneous expenses exceed 2% of your adjusted gross income. (Entry-level candidates…your job-hunting expenses incurred while looking for your first job don’t qualify.) Deductible costs include, but aren’t limited to:
• Transportation expenses incurred as part of the job search, including traveling to interviews. The current mileage reimbursement is $.56 cents a mile for driving your own car, plus parking and tolls.
• Food and lodging expenses if your search takes you away from home overnight.
• Cab/public transportation fares.
• Employment agency and career coaching fees (resume writing, interview coaching, etc.)
• Costs of printing resumes, business cards, handbills, postage.
• Advertising and networking (this would include membership fees to in-person networking groups and business associations, and online memberships such as a premium LinkedIn account.

Make sure to consult with your accountant on each of these items, and if you’ll be looking for a job in 2015, save those receipts!

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