With 4 million jobs having vanished since the recession began, this promises to be a thoroughly mined part of the tax code: itemize to get credit for career coaching, travel, résumé preparation or other job-search expenses. However, mileage put on your car (for a job search or other reasons) is tricky this year. There are three types of deductions for this: one for business activity, one for medical and moving purposes and one for charitable purposes. A job search is considered a business expense, which is the most generous deduction, at 50.5 cents per mile for the first half of 2008 and 58.5 cents the second half.
10 Valuable Tips for Tax Season
Looking for a tax credit, a rebate or some juicy deductions? Here are 10 ways to make April 15 a rewarding day.