Jackson Hewitt Tax Service – Four Corners Urges Taxpayers to be Aware of Commonly Overlooked Deductions
Silver Spring, MD, --(PR.com)-- In this economy, every dollar counts. Jackson Hewitt Tax Service® - Four Corners office urges taxpayers to be aware of the most commonly overlooked deductions that may help increase their refund or keep more money in their pockets this tax season.
"One way to help maximize your dollars is to claim all relevant tax credits and deductions when filing your annual income tax return," said John J. Lah, MBA, CFA the Franchise Owner. "Given the economic slowdown, there are new tax law changes that could help the average taxpayer save money, and it is very important that no deduction or credit get left behind."
Jackson Hewitt – Four Corners office highlights some of the most commonly overlooked deductions:
- Deductions related to changes in life, such as getting married, having a baby, adopting a child or taking a new job
- Interest paid on a student loan
- Alimony payments
- Medical transportation expenses, including tolls, parking and mileage for trips to health facilities, doctors' offices or laboratories
- Hearing aids, eye glasses and contact lens
- Payments made for health insurance by the self-employed
- Contributions to a retirement savings account like an IRA
- Work-related expenses for handicapped individuals
- Required uniforms and work clothes that are otherwise not suitable for street wear
- Business gifts up to $25 per customer or client
- Mileage incurred performing charitable activities
- Select home office expenses (if the home is your primary place of business)
"Most consumers are unaware of all the tax considerations that may apply to their situations. With hundreds of changes to existing tax laws the chances of missing deductions are much higher this year," said John J. Lah, MBA, CFA. "Working with a knowledgeable tax preparer that is educated on the tax code is one of the best ways to ensure you claim all of the deductions you deserve."
Tax preparers at the Jackson Hewitt Four Corners office are ready to assist individuals in claiming the deductions they are eligible for when preparing and filing a 2008 income tax return.