Did you know that you may be able to deduct some of your job search expenses on your tax return?

Many taxpayers spend time during the summer months updating their résumé and attending career fairs. If you are searching for a job this summer, you may be able to deduct some of your expenses on your tax return. Here are six things the IRS wants you to know about deducting costs related to your job search.

1. To qualify for a deduction, the expenses must be spent on a job search in your current occupation. You may not deduct expenses incurred while looking for a job in a new occupation.
2. You can deduct employment and outplacement agency fees you pay while looking for a job in your present occupation. If your employer pays you back in a later year for employment agency fees, you must include the amount you receive in your gross income up to the amount of your tax benefit in the earlier year.
3. You can deduct amounts you spend for preparing and mailing copies of your résumé to prospective employers as long as you are looking for a new job in your present occupation.
4. If you travel to an area to look for a new job in your present occupation, you may be able to deduct travel expenses to and from the area. You can only deduct the travel expenses if the trip is primarily to look for a new job. The amount of time you spend on personal activity compared to the amount of time you spend looking for work is important in determining whether the trip is primarily personal or is primarily to look for a new job.
5. You cannot deduct job search expenses if there was a substantial break between the end of your last job and the time you begin looking for a new one.
6. You cannot deduct job search expenses if you are looking for a job for the first time.

For more information about job search expenses, see IRS Publication 529, Miscellaneous Deductions. This publication is available on IRS.gov or by calling 800-TAX-FORM (800-829-3676).

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Some Economists Are Concerned The Economy Could Slow If Government Cuts Back On Stimulus Spending And Consumption Remains Sluggish

A tepid gain in consumer spending last month could fuel a debate over whether the United States and other governments should further stimulate their economies to sustain the recovery.

A report that Americans spent cautiously in May came after world leaders meeting in Toronto over the weekend pledged to reduce government deficits by cutting spending and raising taxes. They did so despite warnings from President Barack Obama that scaling back spending too fast could derail the global recovery.

U.S. lawmakers are wary of approving more stimulus spending in light of record-high budget deficits. As a result, millions of Americans could lose unemployment benefits and states could be forced to lay off tens of thousands of workers…

http://think.zionsdirect.com/2010/07/09/cautious-consumers-may/?utm_source=ym_email&utm_medium=email&utm_content=article_3&utm_campaign=zions_cc_rank_1st_07_13_2010

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Planning what to do in case of a disaster is an important part of being prepared. The Internal Revenue Service encourages taxpayers to safeguard their records. Some simple steps can help taxpayers protect financial and tax records in case of disasters.

Listed below are tips for individuals on preparing for a disaster.

1. Recordkeeping Take advantage of paperless recordkeeping for financial and tax records. Many people receive bank statements and documents by e-mail. This method is an outstanding way to secure financial records. Important tax records such as W-2s, tax returns and other paper documents can be scanned onto an electronic format. You can copy them onto a ‘key’ or ‘jump drive’ periodically and then keep the electronic records in a safe place.
2. Document Valuables The IRS has disaster loss workbooks for individuals that can help you compile a room-by-room list of your belongings. One option is to photograph or videotape the contents of your home, especially items of greater value. You should store the photos in a safe place away from the geographic area at risk. This will help you recall and prove the market value of items for insurance and casualty loss claims.
3. Update Emergency Plans Emergency plans should be reviewed annually. Individual taxpayers should make sure they are saving documents everybody should keep including such things as W-2s, home closing statements and insurance records. Make sure you have a means of receiving severe weather information; if you have a NOAA Weather Radio, put fresh batteries in it. Make sure you know what you should do if threatening weather approaches.
4. Count on the IRS In the event of a disaster, the IRS stands ready to help. The IRS has valuable information you can request if your records are destroyed. If you have been impacted by a federally declared disaster, you may receive copies or transcripts of previously filed tax returns free of charge by submitting Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, clearly identified as a disaster related request.

For more information type “Preparing for a Disaster” in the search box on the IRS.gov homepage.

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The Internal Revenue Service stands ready to help individuals and businesses affected by the oil spill in the Gulf of Mexico.

IRS Taxpayer Assistance Centers in several Gulf Coast cities will be open Saturday July 17 to provide help to taxpayers dealing with tax issues as a result of the BP oil spill.

Here is what you need to know about the July 17 special assistance day.

1. The following IRS Taxpayer Assistance Centers will be open on July 17 from 9 a.m. to 2 p.m. local time.

• 1110 Montlimar Drive, Mobile, Ala.
• 651-F West 14th St., Panama City, Fla.
• 7180 9th Ave. North, Pensacola, Fla.
• 2600 Citiplace Centre, Baton Rouge, La.
• 423 Lafayette St., Houma, La.
• 1555 Poydras Street, New Orleans, La.
• 11309 Old Highway 49, Gulfport, Miss.

2. Taxpayers and tax preparers will be able to work directly with IRS employees to resolve tax issues.

3. Assistance will be available for individuals who are experiencing filing or payment hardships because of the oil spill or who have questions about the tax treatment of BP payments.

4. In certain cases, IRS staff can assist by suspending collection and examination actions; however, taxpayers who need this assistance must request it. Others may decide to continue making payments because interest will continue to accrue on outstanding balances, even if some penalties are abated.

5. The IRS opened a dedicated phone line for victims of the Gulf oil spill –– 866-562-5227.  This special toll-free line is open weekdays from 7 a.m. to 10 p.m. and will also be open to callers on July 17 from 9 a.m. to 2 p.m. Central Time.

For additional information, visit IRS.gov.

Links:

• IR-2010-85: IRS Announces Opening Times, Addresses for July 17 Special Assistance Day for Gulf Oil Spill Victims
• Gulf Oil Spill: Questions and Answers
• DisasterAssistance.gov
• RestoretheGulf.gov

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The Great Reneger
(Michael Fischer ©2009)
www.thefischers.net

Hey have you heard hes gone back on his word
On the internet theres a big long list
Of promises broken so eloquently spoken
And you wonder why so many millions are pissed?! Cause hes the

(Chorus)
Great Reneger a politician at heart
A politician practicing his art
Hes the Great Reneger, neither black or white
Hes many shades of grey far left from whats right

Hell tell you anything to get you on his side
Like Change You Can Believe In, Trust me would I lie?
Well have transparency, CSPAN, Post all bills on the net
Therell be no lobbyists, no pork, Have we seen it? Not Yet! (chorus)

Bridge 1
Theyve had votes in the night behind closed doors
Senators bribed no better than whores
Pushing their program refusing to hear
When the voice of the people is perfectly clear (chorus)

His skin so thin and when scratched you can see
The horrible sight that lies just beneath
An unseasoned novice lifted up in pride
But theres a fall comen soon and therell be no place to hide! (Chorus)

Bridge 2
Teleprompter in place he can really talk that talk
Blowin smoke is cheap but he dont walk the walk
And what politician hates is when you turn on the light
Hell run like a roach for the darkness of night

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1. Two times a week we go to a nice restaurant, have a Little beverage, good food and companionship She goes on Tuesdays; I go on Fridays.

2. We also sleep in separate beds.
Hers is in California, and mine is in Texas.

3. I take my wife everywhere….
but she keeps finding her way back.

4. I asked my wife where she wanted to go for our anniversary.
“Somewhere I haven’t been in a long time!” she said.
So I suggested the kitchen.

5. We always hold hands. If I let go, she shops.

6. She has an electric blender, electric toaster and electric bread maker.
She said “There are too many gadgets, and no place to sit down!” So I bought her an electric chair.

7. My wife told me the car wasn’t running well because there was water in the carburetor. I asked where the car was. She told me, “In the lake.”

8. She got a mud pack, and looked great for two days.
Then the mud fell off.

9. She ran after the garbage truck, yelling, “Am I too late For the garbage?” The driver said, “No, jump in!”

10. Remember: Marriage is the number one cause of divorce.

11. I married Miss Right. I just didn’t know her first name was Always.

12. I haven’t spoken to my wife in 18 months.
I don’t like to interrupt her.

13. The last fight was my fault though. My wife asked, “What’s on the TV?”
and I said, “Dust!”

Can’t you just hear him say all of these? I love it.  And he always ended his programs with the words, “God Bless.”

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From the outside, Jerry Erwin’s home in the northwestern US state of Oregon is a nondescript house with a manicured front lawn and little to differentiate it from those of his neighbors.

But tucked away out of sight in his backyard are the signs of his preparations for doomsday, a catastrophic societal collapse that Erwin, 45, now believes is likely within his lifetime.

“I’ve got, under an awning, stacks of firewood, rain catching in barrels, I’ve got a shed with barbed concertina wire, like the military uses,” he told AFP.

He and his wife also have also stockpiled thousands of rounds of ammunition and enough food for about six months.

“Several years ago I worked on paying off the house, replacing all the windows, and just very recently, I’m proud to say, we’ve replaced all our exterior doors with more energy-efficient ones, with as much built-in security features as I could get,” he told AFP.

Erwin and others like him in the United States and elsewhere see political upheaval and natural disasters as clear signs that civilization is doomed.

“We’re hitting on all cylinders as far as symptoms that have led other great powers to decline or collapse: resource depletion, damage to the environment, climate change, those are the same things that affected other great societies,” he said.

For Erwin, the decline is irreversible and the best approach is to prepare for the inevitable.

His pessimism is shared by a wide range of people, from left-wing environmentalists who believe climate change and capitalist greed will doom human society to Christian fundamentalists who think sin will do the same.

They label themselves “preppers,” “doomers,” and “survivalists,” and take a variety of different approaches to the same question: How best to prepare for the coming apocalypse?

Continue reading the full story here

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