Reduce your Taxes: Your Job Search Expenses Are Tax Deductible

Did you know that you could reduce your taxes for the expenses you incur on your job searches? The radio show, “An Education That Works” on the eve of the New Year 2014, witnessed Kenneth Kinney in conversation with some important people from the Mid South, who shared career-based information relevant for people looking for higher education and a career.

One of the in-guests, Jason Hensley, owner of the Mid South Accounting, shared some important information on tax deductible expenses for people who are out of work and looking for job opportunities.

Tax Deductible Expenses during Job Search

The guest Jason Hensley said that if a person looks for a new job in the same line as his previous job, he/ she can enjoy tax deduction benefits for the following expenses:

1. Interview trip expenses
2. Employment office expenses

However, expenses involved in the first job search of a fresher cannot be covered under such tax deductible options.

Also, there are tax benefits for people who are enroll in a higher education course. These benefits are called as Credits. Following are the two attractive credits that such higher-education students should utilize:

1. American Opportunity Credit

Through this credit, up to $2,500 can be reduced in the tax amount

2. Lifetime Learning Credit

Through this credit, up to $2,000 can be reduced in the tax amount

Eligibility to receive such credits:

1. Students who pay for a qualified higher education course
2. Anybody who pays for an eligible student enrolled in a qualified higher education course
3.Anybody who pays for a spouse or a dependent enrolled in a qualified higher education course

For more information on both the credits, please visit the official Website of the Internal Revenue Service.

Education for a Better Life

Earlier on the show, another guest, Judge Paula Skahan spoke about the role of education in making the local Memphis a better place to live in. The judge said that educated people were not being considered as exceptions when scanning people who commit crimes. But, the fact cannot be denied that mostly the people, who commit crimes like robbery or who do drugs, are the ones without jobs, proper professional skills, and/or proper education.

She mentioned that mentoring programs going on in the local Memphis community could help such people restart their life with a proper education and a proper job.

Finally on the show, the Victory University’s campus enrollment manager Raymond Bradford shared his views on the influence of a higher education degree in a student’s career. He mentioned that obtaining a degree is a life-changing experience for a student, with an opportunity to progress.

The host Kenneth Kinney concluded the show with his view that an education degree was important for a person not just to obtain a skill or a job but for a longtime career.

If you have missed out on the show, listen to it at www.kwam990.com.

Do watch out for the next episode of “An Education That Works” coming Tuesday at 8 am. Kenneth Kinney of Victory University will be back to share information for people who need them the most.

Also, check out other episodes of the show at AM990 on demand link at the www.kwam990.com Website.