Commonly Overlooked Credits and Deductions

Some tax deductions that allow you to reduce your taxable income include:

1. Moving Expenses

If you moved for a job that is at least 50 miles away from your home and held this job for at least 39 weeks, you can claim your moving expenses even if you don’t itemize deductions.

2. Tax-Preparation Fees

Plan for tax time. Tax laws change and so do life circumstances. Using a professional to help you file your return may be a wise investment. For example, the tax pros at Jackson Hewitt can help you get every deduction and credit you deserve and the biggest refund possible. Plus, the cost of preparing your taxes can be claimed if you itemize your deductions. In fact, one missed credit or deduction could more than cover the cost of having your taxes prepared by a tax professional.

3. New Moms

Breast pumps and lactation supplies are considered medical equipment, which means they qualify for a possible deduction.

4. Career Corner

Job hunting often means investing both time and money. However, you may be able to deduct some of the job-search expenses you incur. Costs such as preparing resumes, creating and maintaining websites, business cards, agency fees and travel expenses may be eligible.

5. Wedding Bells

If you were married in a church or at a historical site during the past year, you may be able to deduct fees paid to the venue as a charitable donation.

6. Medical Fitness

While general toning and fitness workouts to improve general health are considered personal expenses, you may be able to deduct your gym membership as a medical expense. If a doctor diagnoses you with a specific medical condition, such as obesity or hypertension, or a specific physical or mental illness, and prescribes workouts or participation in a weight-loss program to treat your illness, the membership dues may be tax-deductible.

7. Road Warriors

If you travel for business and aren’t reimbursed by your employer, those costs can qualify as a deduction.

Every possible tax credit and deduction can help when money is tight. You might qualify for at least one overlooked credit or deduction – and maybe more than one. Consult a tax professional to discuss how you can maximize your refund and learn more at JacksonHewitt.com.

Refund Advance

if you’re getting a refund, you typically want it as soon as possible, but that isn’t always an option, especially if you are one of the millions of Americans who claim either the Earned Income Tax Credit or Additional Child Tax Credit. You could access up to $3,200 with a no-fee Refund Advance loan at zero percent annual percentage rate (APR), offered by MetaBank, at participating Jackson Hewitt locations. Terms apply, visit JacksonHewitt.com for details.

Did You Know?

1. The IRS, as well as many states, allows taxpayers to catch up on missed credits or deductions, offering a three-year window for filing an amended tax return. You can secure unclaimed credits and deductions by filing amended tax returns to avoid losing any unclaimed funds from as far back as 2014.
2. With locations across the United States, including kiosks in 3,000 Walmart stores, the tax professionals at Jackson Hewitt make it easy to stop in when it’s most convenient for you.
3. If you are a single parent, you can file as Head of Household instead of Single. This filing status can provide better deduction options and a lower tax rate schedule.