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My unemployment claim finally got approved so I am getting a tiny bit of money; everything helps!
And I have a job interview tomorrow afternoon!!! There's a lot riding on this as my health insurance ends on Tuesday and I really, really, don't want to pay for Cobra!
So please think good thoughts, say some prayers and keep your fingers crossed for me!
I think you can deduct part of your Cobra off your federal income taxes. Since unemployement is taxable and if your state doesn't withhold the taxes, you better put 25% of your unemployment in the bank as a reserve to pay the tax that will be due. The Cobra health insurance deduction can be a useful offset to the UI which will help reduce your tax bill