Join the August
16 Facebook Live Event and Enter the Tax'n & Relax'n
Sweepstakes
JERSEY
CITY, N.J., Aug. 15,
2024 /PRNewswire/ -- The experts at Jackson Hewitt
Tax Services® are celebrating the millions of Americans who are
freelancers, small business owners, and gig workers in the United States on National Independent
Worker Day, on Friday, Aug. 16.
Whether chasing the dream of owning a business or supplementing
income, the number of independent workers is on the rise. According
to recent statistics from MarketWatch, more than half (54 percent)
of Americans say they've adopted a side hustle within the last 12
months. This Friday, Aug. 16, Jackson
Hewitt is offering tax tips, hosting a three-hour Facebook Live
event, and launching a Tax'n & Relax'n sweepstakes, where one
grand prize winner will win a vacation for two to a Sandals Resort
in Jamaica.
"According to the IRS, if you work for yourself to make money or
profit, then you are considered a small business owner. This
includes independent contracting, side gigs, hustles, and freelance
work (full- or part-time), even if you have a regular, full-time
employee job," said Mark Steber,
Chief Tax Information Officer, Jackson Hewitt Tax Services. "The
good news is there are many benefits you may be eligible for that
could boost your tax situation including tax deductions, tax
elections and options on your taxes and even tax credits, so it's
important to make sure people who are hustling for themselves know
what they can deduct, what credits they can claim, what tax
advantageous elections to make, fill out the correct tax forms and
file accurately. And finally, if you are having a challenging time,
and maybe even a loss from activity, that can have a possible
silver lining too, and may create a net operating loss and be
deductible against other income including your regular
wages."
Independent Worker Day Celebration via Facebook Live
Event
Interested taxpayers can join Jackson Hewitt's
National Independent Worker Day Celebration for a special Facebook
Live event on Friday, Aug. 16,
starting at noon Eastern. The Facebook Live event will give
viewers the opportunity to understand how their self-employment
income taxes work with unique tips for specific types of gig
workers, as well as to ask tax questions with a chance to win
prizes.
Each hour will focus on a different type of self-employment work
where Jackson Hewitt's Chief Tax Information Officer, Mark Steber, will be joined by a popular content
creator who specializes in that area of expertise:
- Noon – 12:30 p.m. Eastern: Tips
for rideshare drivers with Scott
Ross @scottyross_
- Influencer Scott Ross has been
a rideshare driver for over 8 years in the Phoenix and Orange County areas and will share
his tips and experiences.
- 1 – 1:30 p.m. Eastern: Tips for artisan craft sellers with
Giulia Ruozzi
@femalesconnection
- Influencer Giulia Ruozzi creates
content to help small business owners grow their platforms online
through networking, branding, and understanding trends.
- 2 - 2:30 p.m. Eastern: Tips for
content creators with Nina Nwarueze @nina_moneymentor
- Influencer Nina Nwarueze is a content creator focused on
financial literacy that has been navigating the gig economy for
over a year.
Throughout the Facebook Live event, people will be able to ask
and have their questions answered by Steber and the influencer
hosts. To RSVP and learn more about the social media event, visit
and follow Jackson Hewitt on
Facebook.
Tax'n & Relax'n Sweepstakes
One lucky entrant will
be randomly selected to win an all-inclusive Caribbean vacation for two to any Sandals
Resort in Jamaica and $2,000 cash prize for spending and travel
expenses. The entry period for the "Tax'n & Relax'n" Jackson
Hewitt sweepstakes will be open for two weeks, from Aug. 15, 2024, through Aug. 31, 2024, and
the winner will be selected and notified by Sept. 3, 2024.
To enter the Tax'n & Relax'n sweepstakes, entrants must
follow Jackson Hewitt on Instagram
(www.instagram.com/jacksonhewitttaxservice), "like" one of the
Tax'n & Relax'n posts on Instagram and tag a friend with a
comment sharing what they'd like to do in Jamaica if they won the sweepstakes while
using the #JHSweeps hashtag. See below for eligibility requirements
and restrictions. For full official rules, visit
www.jacksonhewitt.com/legal/tax-relax-sweepstakes/.
Independent Worker Day Tax Tips
"Over the last several
years, we've seen an uptick in people working for themselves, part
time and even full time, which is a really exciting time, but can
be stressful when not knowing how to deal with taxes and the
financial challenges of starting a side hustle or a new business,"
said Steber. "At Jackson Hewitt, we want to help everyone
understand how their self-employment income impacts their personal
tax return and answer their tax questions."
Here are the top three things self-employed taxpayers need
to know this National Independent Worker Day:
- Deductions: Self-employed taxpayers have several tax
deductions that can reduce income taxes when they relate to work
and have more deductions than a traditional W-2 employee. All
expenses paid to do the work and make money can be deductible on a
tax return. The most common deductions are advertising
expenses, technology costs, office supplies, banking and legal
fees, a home office, vehicle-related expenses and even professional
tax help fees.
- Quarterly Payments: Small business owners and
self-employed taxpayers generally need to consider paying quarterly
estimated taxes, not just on "Tax Day." Those who expect to pay
more than $1,000 in taxes on
self-employment income for the year need to pay estimated taxes
each quarter to avoid underpayment penalties and interest.
- Tax Forms: At minimum, self-employed taxpayers need to
file a Form 1040 and include Schedule 1 and Schedule C with their
tax return. Tax forms can be complex, which is why the experts at
Jackson Hewitt encourage self-employed taxpayers to learn more
about how their unique business is impacted by tax laws.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt
Tax Service Inc. is an innovator in the tax industry with a
mission to provide its hardworking clients access to simple,
low-cost solutions to manage their taxes and tax refunds. Jackson
Hewitt is devoted to helping
clients get ahead and stands behind its work with its Maximum
Refund Guarantee and Lifetime Accuracy Guarantee® (restrictions
apply, see Jackson Hewitt's website for more details).
Jackson Hewitt has more than 5,200
franchise and company-owned locations nationwide, including 2,700
in Walmart stores, making it easy and convenient for clients to
file their taxes. For more information about products, services, or
offers, or to locate a Jackson Hewitt office,
visit jacksonhewitt.com or call (800) 234-1040.
Tax'n & Relax'n Sweepstakes
NO PURCHASE NECESSARY
TO ENTER OR WIN. Purchasing does not improve your chances of
winning. The Jackson Hewitt Tax'n & Relax'n Sweepstakes is open
to legal residents of the 50 United States, including the
District of Columbia, age 18 or
older at the time of entry and who have completed the sweepstakes
requirements within the promotion period (8/15/24 – 8/31/24). One (1) grand prize winner
will be selected on September 3,
2024, to receive $2,000 cash
and a four-day/three-night all-inclusive vacation for two (2)
adults in a deluxe/luxury category room at any one of the seven (7)
Sandals Resorts located in Jamaica. NO TRANSPORTATION WILL BE
PROVIDED. WINNER IS RESPONSIBLE FOR ALL TRANSPORTATION, INCLUDING
AIRFARE, TO AND FROM THE SANDALS RESORT. Odds of winning depend
on the number of eligible entries received during the sweepstakes
entry period. For full Official Rules and entry methods, prize
details, other eligibility requirements, and restrictions, visit
https://www.jacksonhewitt.com/legal/tax-relax-sweepstakes/.
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SOURCE Jackson Hewitt Tax Service Inc.