Do you read the want ads? You should. You never know when a job opening will be posted that will help you make a career move. By the way — job search expenses can be tax-deductible even if you don’t find a job.
Job search expenses include subscriptions, printing resumes, mailing resumes, hiring someone to write your resume, traveling to interviews, even buying lunch for a headhunter. Job search expenses also include taking out a position wanted ad, having professional headshots taken, or paying a job service.
But let’s get back to reading the want ads.
Sometimes the want ads will tip you off to what other businesses are doing. If your competition is hiring shipping clerks perhaps that’s a sign that they just landed a big sales contract.
Sometimes the want ads will tip you off to what the IRS is doing. Well, the IRS just posted some help wanted ads for 200 lawyers. And why does the IRS want 200 more lawyers?
The IRS wants those lawyers to go after abusive tax shelters.
Some of those tax shelters use bogus, inflated, and unwarranted tax deductions.
Some abuses involve land schemes.
Some abuses involve insurance schemes.
The IRS wants the 200 lawyers to come up with regulations to stop these abuses and the IRS wants the lawyers to take the cases to court.
So reading the want ads tells us the IRS is stepping up its work against tax shelters and abusive business transactions. And that’s a warning.
Now, if you’re facing a tax issue, and if you don’t have a tax lawyer to call — call us now for a free consultation. We’ll let you know if you need a lawyer. Or even if you can resolve the tax issue on your own.
Call now for a free consultation with Legal Tax Defense.
Disclaimer: Alan Mendelson is a well-known TV consumer news reporter who reports on tax issues. You should seek professional advice if you have tax questions or issues.