Date: 2007-04-09
JACKSON HEWITT® CELEBRATES CONSTRUCTION WORKERS AND LABORERS WITH OCCUPATION-RELATED TAX SAVINGS
Now Through April 15, Participating Jackson Hewitt Locations Offer Discount Off Tax Preparation For Workers Across a Wide Range of Occupations
Campaign Continues With Tax Benefits for Construction Workers and Laborers: April 10 - 11
PARSIPPANY, N.J., April 9, 2007 – Jackson Hewitt Tax Service®, a leader in the tax preparation industry, celebrates construction workers and laborers this Tuesday and Wednesday, April 10-11, 2007, when participating Jackson Hewitt locations will offer mechanics, welders, electricians, plumbers, truck / bus drivers, construction workers and others filing a 2006 income tax return a $25 discount off tax preparation services. Customers will also receive a personalized occupational review through the company’s proprietary Deductions@Work® program to ensure that they are aware of and receiving the credits and deductions that may be available to them. Other occupations will be celebrated, also for two-day periods, now through Sunday, April 15.
This special offer is part of a larger campaign by Jackson Hewitt to remind taxpayers that there are numerous tax deductions specifically related to different types of employment. Throughout April, Jackson Hewitt is working around the clock to celebrate the Workforce of America. The company will spotlight a number of industries to help a variety of workers take full advantage of the tax benefits related to their profession when filing this year.
From Tuesday, April 10, through Wednesday, April 11, construction workers and laborers can visit participating Jackson Hewitt locations around the country to receive the $25 discount off tax preparation.
Following are some of the tax considerations for construction workers and laborers to keep in mind when they file:
• There are numerous deductions that may apply to those working in these positions (if expenses are unreimbursed), including: subscriptions to trade journals related to your work; dues for trade associations or unions; insurance premiums for protection against liability or wrongful acts; specialized equipment or tools that are replaceable within one year; safety equipment such as steel-toed shoes or boots; and the cost and upkeep of uniforms if they are required for work and not suitable for everyday wear (for example, specialized coveralls, hard hat, work gloves, safety shoes, and goggles not considered “street wear”).
• Those who perform a trade, such as painters, welders, plumbers or other laborers, may be self-employed or may own their own businesses, and many of them provide trade services outside or in addition to their regular jobs. Payments received for this work may be considered income from self-employment and reportable on Schedule C, Profit or Loss from Business. For example, if a tradesman installs an overhead fan in a home or provides backyard wiring as an additional job, this would be considered self-employed income. You may account for the income amounts yourself or you may receive a Form 1099-MISC, Miscellaneous Income.
• If you are self-employed and your net earnings are $400 or more, you must pay self-employment tax on the income you report on Schedule C. In addition, you may need to make estimated payments to cover the amount of self-employment tax or income tax associated with the income you report on Schedule C.
• You may be able to deduct job hunting expenses you have while you are temporarily unemployed as long as your new job is in the same field of work as your previous job. Holding odd jobs during the period of temporary unemployment does not disqualify you from deducting the job hunting expenses. For example, a plumber working temporarily as a pipe fitter until finding another plumbing job may deduct job hunting expenses.
“Taxpayers working in construction, as laborers, or who provide a trade may not be aware that there are credits and deductions specific to their field if they have incurred certain un-reimbursed, job-related expenses,” notes Michael D. Lister, President and CEO, Jackson Hewitt Tax Service Inc. “By helping to highlight some of these job-related considerations as part of our greater commitment to the Workforce of America, we hope to find these hard workers additional items to consider that may have gone unnoticed.”
Jackson Hewitt’s proprietary Deductions@Work program currently reviews over 50 of the most common professions in the U.S. and notes all of the credits and deductions available for each.
As the tax deadline approaches, Jackson Hewitt offices will be open extended hours – some until midnight and even 24-hours during the final days before April 17 – to help America’s Workforce prepare and file their income tax return and capture all of the job-related deductions and credits available to them. For a partial list of occupations profiled and to review some of the most commonly overlooked deductions, visit
www.jacksonhewitt.com.
About Jackson Hewitt Tax Service Inc.Jackson Hewitt Tax Service Inc., with over 6,500 franchised and company-owned offices throughout the United States during the 2007 tax season, is an industry leader providing full service individual federal and state income tax preparation. Most offices are independently owned and operated. The Company is based in Parsippany, New Jersey. More information may be obtained at
www.jacksonhewitt.com. To locate the Jackson Hewitt Tax Service office nearest to you, call 1-800-234-1040.