Your tax situation should be simplified when you're not earning an income, right? Not so fast. Filing for unemployment doesn't necessarily pardon you from the time-consuming tasks that accompany tax season. Find out what you need to know about filing this year's tax return if you were unemployed in 2009 (and how to be better prepared next time around) with these tips.
- Revisit Deductions and Credits: Many deductions and credits are inaccessible when your earned income exceeds a particular amount. You may have earned too much to qualify before, but if you were unemployed for a significant chunk of time in 2009 you should revisit these tax breaks that could save you money. When considering deductions, don't forget to count your job search expenses.
- Run the Numbers For Medical Expenses:COBRA and other forms of non-employer subsidized insurance can ring up a pretty big bill, not to mention other health related expenses like prescriptions and co-pays. Medical expenses are