Tax Tips For the Unemployed
Everyone knows that the economy has been in a rut for quite a while now. Jobs are scarce, and times are hard. If you are unemployed, times can be even harder. But something you must realize is that even though you are unemployed, you still have to file taxes. But do not fret. The government is not as hard as you think on those who do not have jobs. Here are some tips on how to file your taxes if you are unemployed.
An important thing to realize is that because you probably did not make as much in the past year, the overall amount that will be taken out of your yearly earnings for taxes will be much smaller. You may even qualify for additional tax breaks, which will only serve to increase your tax return.
Tax deductible things that will be applicable to you will be expenses that go towards searching for a job. These costs could include travel costs, costs of paying someone to evaluate your resume, or anything else directly related to your job search. Make sure the expense is directly related to your job search, however. You do not want to get into trouble for trying to receive deductions that you are not entitled to.
It is also important to check and see if you qualify for free income tax filing. If you make $57,000 a year or less, then you qualify for this benefit.
Being unemployed can be very stressful, painful, and difficult. Following these tips should at least make the tax filing part of your unemployment a little bit easier.