Jackson Hewitt(R) Celebrates Educators and Students with Occupation-Related Tax Savings |
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By: Jackson Hewitt Tax Service Inc. Posted: 2007-04-07 06:20:22 |
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Educators and students still waiting to file their 2006 tax returns should hurry to Jackson Hewitt Tax Service(R), a leader in the tax preparation industry, this Friday and Saturday, April 6-7, 2007. On those days, participating Jackson Hewitt locations will be offering teachers, tutors and others in the educational field, as well as college, graduate and post-graduate students 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(R) 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 - ensuring that they are filing a complete and accurate return. From Friday, April 6, through Saturday, April 7, educators and students can visit participating Jackson Hewitt locations around the country to receive the $25 discount off tax preparation. Following are some of the tax considerations educators and students may qualify for, including: Deductions and Credits For Educators: -- Thanks to a recently-extended tax provision, if you are a kindergarten through grade 12 teacher, instructor, counselor, principal, or aide in a school for at least 900 hours during a school year, you can deduct up to $250 for expenses incurred during the tax year - such as for classroom supplies. It is not necessary to itemize deductions to obtain this benefit. Taxpayers should note that this tax law was signed late in 2006, and as such, the IRS forms which had already been printed do not include the new provision. This is another reason why meeting with an experienced tax preparer who is familiar with all recent tax code updates is so important. -- Educators may be able to claim deductions for tuition incurred in pursuing graduate or other additional education, especially if that educational program is required as a part of a state school board's certification renewal process. -- There are numerous additional deductions that may apply to educators (if unreimbursed), including: expenses incurred when lecturing, writing or publishing for which the educator receives no additional compensation other than regular salary; clothing required for work that is not appropriate for everyday wear (such as an art teacher's smock or a dance teacher's jazz shoes); car expenses incurred when taking mentally handicapped students on a school-sponsored field trip excursion; or the costs of materials used for a class play or party. For Students: -- Students may be able to deduct Tuition and Fees for higher education expenses, up to $4,000 based on income level for 2006 returns. The provision also extends this potential benefit through tax year 2007. -- Students may also be able to deduct student loan interest, up to a maximum of $2,500 in 2006. -- The Hope Credit is a nonrefundable tax credit available for qualified tuition and related expenses for post-secondary education. This credit offers tax filers up to $1,650 for each eligible student, for a period of two tax years. -- Unlike the Hope Credit, which is only available for two years, the Lifetime Learning Credit is available every year the taxpayer, a spouse or a dependent pays for any qualified education expenses -- such as courses to acquire or improve job skills. This credit of up to $2,000 covers courses beyond the first two semesters, or those taken in the first two years if a taxpayer does not qualify for the Hope credit. "Educators and students are focused on learning, so it's appropriate that we at Jackson Hewitt help add to their tax knowledge, by highlighting the credits and deductions specific to their field that are often-overlooked," notes Michael D. Lister, President and CEO, Jackson Hewitt Tax Service Inc. "This is all a part of our greater commitment to the Workforce of America." 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 http://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 http://www.jacksonhewitt.com. To locate the Jackson Hewitt Tax Service office nearest to you, call 1-800-234-1040. Contact:Melissa Connerton Jorge Lavina CooperKatz & Company CooperKatz & Company 212-455-8001 212-455-8041 mconnerton@cooperkatz.com jlavina@cooperkatz.co |
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