moving expenses

The Most Overlooked Tax Deductions, Part 8

This is the eighth part of our series of blogs on the most overlooked tax deductions. In this blog, we will attempt to summarize the first half or group of prior articles in the series. For a more a detailed overview, see the blogs themselves!

JOB & MOVING DEDUCTIONS

Job Search Expenses

As long as the position of employment sought is in the same line of work as a current or most recent job, job search expenses may be deducted as miscellaneous expenses if itemized.

Moving Expenses for a First Job

When, If Ever, Can I Deduct Pet-Related Costs?

Believe it or not, there are some pet-related expenses which may be deducted from your taxes. Here is a summary of such expenses. And you thought all you were ever going to get out of this relationship was love, affection, and undying loyalty!

Medical Expenses

Taxpayers may include the expenses of buying, training and maintaining guide dogs used for assistance in cases of either reduced vision or hearing. This may include all necessary food, training, grooming and veterinary care. You may also deduct this expense if you’ve been diagnosed with a physical or mental condition that benefits from the attention of a trained therapy animal. Keep in mind that unless the animal is trained or certified as treatment for a diagnosed illness or condition, the IRS will disallow any deduction.

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