MaryandMoney.com » Job search

Job Search Tax Reality

Mary Caraccioli — Thu, 15 Jul 2010 19:18:32 +0000

The IRS has started a PR push touting the tax benefits bestowed to those looking for work. But a closer look at the rules reveals a lot of job seekers get no tax advantage at all. Those snubbed include folks whose industries have died (or so brutally downsized there is no hope of getting another job in that industry) and college grads who have not been able to find a job yet. There are plenty of 2009 grads who still haven’t found work yet. It is even harder for them now that 2010 grads have hit the pavement. Here is a closer look at the IRS rules:

1) To qualify for a deduction, the expenses must be spent on a job search in your current occupation. You may not deduct expenses incurred while looking for a job in a new occupation.
2) You can deduct employment and outplacement agency fees you pay while looking for a job in your present occupation. If your employer pays you back in a later year for employment agency fees, you must include the amount you receive in your gross income up to the amount of your tax benefit in the earlier year.
3) You can deduct amounts you spend for preparing and mailing copies of your résumé to prospective employers as long as you are looking for a new job in your present occupation.
4 ) If you travel to an area to look for a new job in your present occupation, you may be able to deduct travel expenses to and from the area. You can only deduct the travel expenses if the trip is primarily to look for a new job. The amount of time you spend on personal activity compared to the amount of time you spend looking for work is important in determining whether the trip is primarily personal or is primarily to look for a new job.
5) You cannot deduct job search expenses if there was a substantial break between the end of your last job and the time you begin looking for a new one. (Sorry Moms returning to the workforce- you are out of luck)
6) You cannot deduct job search expenses if you are looking for a job for the first time.

Get Hired by Looking like a Winner!

Mary Caraccioli — Sun, 23 May 2010 15:38:52 +0000

Rita Hazan is one of the Stylists and Hair Color Specialists in the world. From Oprah to Oscar winners she makes her clients sparkle. She shows my viewers how they can look better ont he outside to help them land the next gig. She believes when you feel your worst you need to try to look your best.

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Sell Yourself in 30 Seconds or Less

Mary Caraccioli — Fri, 07 Aug 2009 16:28:15 +0000

Peggy Klaus has the best tips for helping you sell yourself. Before you hear from her you have to watch an awkward moment with a guy who felt he had all the right moves- but was, alas, delusional. Enjoy! -Mary Caraccioli

Getting that First Gig: A Few Tips

Mary Caraccioli — Tue, 14 Jul 2009 20:25:14 +0000

We followed two job seekers through a first interview. Learn from what they did well and where they missed opportunity. The thing that struck me was the energy level between the two candidates. You don’t need to be giddy— but show up mentally and show some energy.

Ink: The Hidden Cost of Body Art

Mary Caraccioli — Wed, 29 Apr 2009 19:27:33 +0000

Ashamed!

Mary Caraccioli — Thu, 12 Mar 2009 02:41:48 +0000

Yep that is how I felt after I lost my job. Yeah I know it wasn’t my fault, it’s the economy stupid. But I cover the economy, shouldn’t I have known to get out before they got me? If I was so great, wouldn’t they have found some way to save my job? These are a few of the lame questions I asked myself after I was laid off. I don’t think you are supposed to admit you feel ashamed, but I did. In fact I still get a pang of it occasionally – like when I am at a function and someone asks –what do you do?

If you find yourself feeling this way too, then I feel your pain. But we both have to get over ourselves and get back out there. The best way to find a job is through other people. Networking. The law of averages says you should only spend about 10% of your time looking online or at job ads. If you want to improve your odds, you have got to do more than search the ads. An easy way to get started is by getting on to some of the social networking sites. Facebook and Linkedin are very easy to set up and good general starting points. Then move on to more industry/interest specific sites. Quick rule of thumb for social networking; share. You’ve got to be part of the community, not just take from it. If you are trying to get a job share the stuff that makes you a great hire and an interesting person, not the beer bong photos from the bachelor party. Think of it like this; don’t share anything you wouldn’t want in the headlines of the newspaper. Talking about your interests and asking/answering questions about personal and professional development is a great way to build a community. As wonderful as the Internet is for community building, there is nothing better than real human contact. Get involved with something you enjoy. It will get you out of the house and in touch with lots of people.

Two more tips. Create an elevator pitch about yourself. That is a quick 20 or 30-second description of what you have to offer the world (particularly the working world). Practice it many times before you use it on a stranger. A great book for honing this skill is Peggy Klaus’ BRAG! The Art of Tooting Your Own Horn Without Blowing It.

Getting that pitch together will help you with this last tip. Don’t be afraid to ask for help. Not everyone can or will help you, but you’d be surprised how many people are happy to lend a hand. You never know where that connection will lead. So share your story and your goals with anyone who will listen, they may be able to help. Be positive, be concise and be helpful to them too. – Mary Caraccioli