I recently came across an article titled Job Search Expenses: What Can Be Deducted and realized that it’s a topic I really haven’t blogged about much.
The article serves as a great introduction to the rules of job search tax deduction and I highly recommend you read it. As you do, keep in mind that you have to be out of work to qualify for this tax write off.
Hiring a Career Coach along with outplacement or working with an employment agency is also a tax write off. Another tax workaround I’ve seen comes from setting yourself up as a business “contractor.” But this is always something you should get your tax accountant to look at first!
Back to Career Coaches. The tax write off is definitely a perk. But that’s not a reason in and of itself to work with a Career Coach. Obviously, as a Career Coach, I think it makes a significant difference in one’s job search. If you’re floundering in your career, a Career Coach will help prepare and position you for the career you want, not to mention speed up the process and save you extra months of expenses without an income.
To prove that I practice what I preach, I recently hired a professional business coach for speakers – and I looked for the best. Eventually I found the right fit for me, and our work together was exactly what I needed to take powerful steps forward. At that point, I saw the tax write off as a bonus – and I think you will, too.