June 23, 2018

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Tax Tips for the Unemployed

Tax season may be one of the most financially stressful times of the year. For individuals without a job, everyday financial burdens may be multiplied by an unexpected tax liability. Fortunately, the tax code offers some relief for the unemployed, which may help you reduce or avoid a tax bill.

Both unemployment benefits and severance packages represent taxable income. To help minimize your burden, the government offers tax breaks in several areas of interest for those without a job.

Remember, you can only take a write-off if you actually received taxable income during 2003. Also, the tax code is complicated and everyone’s tax situation differs, so check with your tax advisor before taking any deductions.

-Mike Worthington provides resume-consulting services and FREE resume evaluations for job seekers in all industries at
www.Evaluate Resume also offers specialized job market expertise and content to media and employers. Phone: (802) 865-4243 Fax: (802) 860-2876

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