Tax tips for tough times

For people who are feeling the direct effects of the recession — whether it’s a foreclosure or a drop in pay — this year’s tax season brings some changes.

The New York Times has collected a list of 10 tax tips for people hurt by the economy. Among the suggestions: Scour your circumstances for potential deductions, such as:

If you’re on the hunt for a new job, many of your costs may also be deductible , as long as you itemize your deductions instead of taking the standard deduction. Deductible expenses include résumé paper, printing, travel expenses, long-distance calls and faxes, postage, even meals and lodging expenses. But job expenses are considered a miscellaneous deduction, which means you can only deduct costs that exceed 2 percent of your adjusted gross income. Since other expenses can also be included in the miscellaneous bucket — from tax preparation fees to work uniforms — be sure you’re including them all, said George Jones, a senior tax analyst at CCH.

Read the full story here . The IRS has set up a page of FAQs for people affected by the downtown, here .