What the experts say

Tax breaks for job hunters

Tax deductions can help blunt the cost of a job search, said Laura Saunders in The Wall Street Journal. But the rules can be tricky. Job hunters typically look to write off search-related expenses as a miscellaneous deduction, but to qualify, such outlays must exceed 2 percent of adjusted gross income—“a killer” if you received severance or have a working spouse. What’s more, the miscellaneous deduction only applies if you intend to stay in the same profession, ruling out write-offs for “students looking for a first job, or an accountant who wants to become a screenwriter.” But there’s a way around that rule: If you can earn even a bit of income in your intended field while you job-hunt, you can set up a sole proprietorship and deduct necessary business costs. A lawyer aiming to become a chef, for instance, “can deduct his knives and business cards” if he lands a temp job in a kitchen during his search.

As good as gold (and maybe better)

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Compared with gold, platinum “doesn’t get a lot of respect,” said Anna Prior in SmartMoney. But as a stable investment, it’s precious, and could be poised to climb far beyond its current price of about $1,500 an ounce. As investors piled into gold as a safe haven, gold prices have sometimes risen even beyond that. Platinum, however, unlike gold, has “significant industrial uses, most notably as a key component of catalytic converters in cars and trucks.” That makes the metal “the safer play” over the long term, says bullion analyst Jon Nadler, who thinks an increase in auto production in Japan could end up benefiting platinum investors. “We could see $2,000-an-ounce platinum before the end of the year,” he said.

Save on energy-savers

If you plan to make your home a little greener with an energy-efficient upgrade, “now is the time to act,” said Jessica Anderson in Kiplinger’s Personal Finance. The federal home-energy tax credit—worth 10 percent, up to $500, of the cost of insulation, roofing, and new exterior doors—expires Dec. 31. You can also get credits for installing energy-efficient fans, air conditioners, and water heaters. But even if you miss the deadline for the federal credit, your state may offer similar rebates and tax credits. Check out a database of your local incentives at dsireusa.org and you’ll be seeing green at home—and in your wallet—in no time.