|By PR Newswire||
|April 11, 2012 06:00 AM EDT||
CHICAGO, April 11, 2012 /PRNewswire/ -- Did you know you may be able to write off resume paper and travel to job interviews? How about steel-toe boots for work and home office furniture? A new nationwide study from Liberty Tax Service and CareerBuilder found a significant number of U.S. workers may not be maximizing their tax refunds with only one-in-five (20 percent) reporting they have claimed work-related expenses on their taxes. Only 7 percent have claimed job search expenses. The national study, conducted by Harris Interactive© from February 9 to March 2, 2012, included 6,000 workers across industries and company sizes.
Eligible Job Search Expenses
When asked if they thought certain job search expenses would qualify for tax refunds, at least three-out-of-four workers were not aware that you may be able to claim professional resume-writing services and resume paper. While more than half didn't know travel to and from job interviews may be claimed, the majority of workers were aware that costs associated with relocating for a job may be tax deductible.
Number of workers who didn't know you could potentially claim the following job search expenses:
- Professional resume-writing service – 78 percent
- Resume paper – 84 percent
- Travel (parking, tolls) to and from job interviews – 57 percent
- Relocation to another city or state for a job (moving trucks, travel, temporary housing, etc) – 38 percent
"Documenting the costs of a job search may deliver a tax break whether it results in a new position or not. Job search expenses may be deductible when, totaled with employee expenses and other miscellaneous deductions, they exceed 2 percent of adjusted gross income," said John Hewitt, CEO of Liberty Tax Service.
Eligible Work Expenses
While most workers understood uniforms, safety gear and home office equipment or phone/Internet service may be tax deductible, at least half were not aware certain travel expenses and home office furniture could potentially be claimed depending on one's work situation.
Number of workers who didn't know you may be able to claim the following work expenses:
- Uniforms – 37 percent
- Steel-toe boots for work – 42 percent
- Safety glasses for work – 44 percent
- Travel to see clients – 50 percent
- Travel to work at different locations – 53 percent
- Home office equipment – 38 percent
- Home office phone/Internet services – 40 percent
- Home office furniture – 59 percent
"Home office expenses may be claimed if you exclusively and regularly use your home office as your principal place of business and/or meet other requirements. It's important to be aware of the criteria for any eligible work-related expense, so you can appropriately maximize your return," said Hewitt.
Eligible Education Expenses
Continued education is another area workers can often overlook when filing their taxes. Just one-in-five (23 percent) have claimed their education expenses on their tax return and more than half (55 percent) were not aware that going back to school for new skills in their current occupation may be tax deductible.
"With so many workers transitioning to faster-growing industries post-recession, we see greater investments in acquiring new degrees and certifications," said Rosemary Haefner, Vice President of Human Resources at CareerBuilder. "If you're not researching which educational or career-related expenses are tax deductible, you could be leaving money on the table."
More than half of workers (58 percent) file their taxes in January or February, 28 percent typically file in March and 14 percent file in April or later.
How will workers spend their tax refunds?
Most plan to pay off debt or put the money into savings.
- Pay off bills – 41 percent
- Put into savings – 34 percent
- Make home improvements – 11 percent
- Go on vacation – 9 percent
- Invest it – 7 percent
- Pay back money they owe to people – 5 percent
This survey was conducted online within the U.S. by Harris Interactive© on behalf of CareerBuilder and Liberty Tax Service among 6,000 U.S. workers (employed full-time, not self-employed, government and non-government) between February 9 and March 2, 2012 (percentages for some questions are based on a subset, based on their responses to certain questions). With a pure probability sample of 6,000, one could say with a 95 percent probability that the overall results have a sampling error of +/- 1.27 percentage points. Sampling error for data from sub-samples is higher and varies.
About Liberty Tax Service
Liberty Tax Service is the fastest growing retail tax preparation company in the industry's history, with over 4,200 offices in the United States and Canada. Founded by CEO John T. Hewitt, Liberty Tax Service has prepared over 9,000,000 individual income tax returns. With 42 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax Service. Each office provides computerized income tax preparation, electronic filing, and online filing through eSmart Tax. Liberty Tax Service has been ranked on Entrepreneur magazine's annual "Franchise 500" every year since 1998.
CareerBuilder is the global leader in human capital solutions, helping companies target and attract their most important asset - their people. Its online career site, CareerBuilder.com®, is the largest in the United States with more than 24 million unique visitors, 1 million jobs and 45 million resumes. CareerBuilder works with the world's top employers, providing resources for everything from employment branding and data analysis to recruitment support. More than 10,000 websites, including 140 newspapers and broadband portals such as MSN and AOL, feature CareerBuilder's proprietary job search technology on their career sites. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune Company and The McClatchy Company (NYSE:MNI), CareerBuilder and its subsidiaries operate in the United States, Europe, Canada and Asia. For more information, visit www.careerbuilder.com.
Liberty Tax Service
Martha O'Gorman, Chief Marketing Officer
(800) 790-3863 ext. 8022
SOURCE CareerBuilder; Liberty Tax Service
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 11:30 PM EST Reads: 1,145
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Dec. 9, 2016 10:45 PM EST Reads: 493
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Dec. 9, 2016 10:00 PM EST Reads: 293
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 09:30 PM EST Reads: 1,281
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 9, 2016 08:00 PM EST Reads: 1,020
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
Dec. 9, 2016 07:45 PM EST Reads: 721
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
Dec. 9, 2016 06:45 PM EST Reads: 5,147
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Dec. 9, 2016 06:15 PM EST Reads: 1,766
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Dec. 9, 2016 05:30 PM EST Reads: 2,374
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Dec. 9, 2016 05:15 PM EST Reads: 1,891
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 9, 2016 05:15 PM EST Reads: 1,472
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 9, 2016 04:45 PM EST Reads: 1,317
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 9, 2016 04:45 PM EST Reads: 1,869
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 03:30 PM EST Reads: 1,247
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 9, 2016 03:15 PM EST Reads: 992
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 03:15 PM EST Reads: 881
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
Dec. 9, 2016 02:45 PM EST Reads: 657
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 9, 2016 02:45 PM EST Reads: 1,053
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 9, 2016 02:15 PM EST Reads: 1,790
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 02:15 PM EST Reads: 836