Jackson Hewitt Tax Service Inc. is the second-largest tax-preparation service in the United States, next only to H&R Block Tax Service. Headquartered in New Jersey City, New Jersey, it operates over 6,300 company-owned and franchised retail outlets, including around 3,000 Walmart and 200 Sears stores in the United States and Puerto Rico.
Jackson Hewitt prices are slightly higher than H&R Block, averaging $208 per each prepared return as against $189 in the case of the industry leader.
The following Jackson Hewitt prices are estimates only.
|Single W2 (0 dependent)||$135.00|
|Joint W2 (0 dependent)||$135.00|
|Self Employed 1099 (0 dependent)||$300.00|
Business Tax Returns
|Incorporated, Corporated, LLC (Starting Price)||$300.00|
Jackson Hewitt Do-It Yourself Software
|Many people qualify when filing: Single or Married Filing Jointly, Up to $100,000 in taxable income, The standard deduction, W-2 wages and/or unemployment, Earned Income Tax Credit without kids (Limited Time Offer)||$0.00|
Families and Retirees
|This includes filings with: Children and other dependents, Schedule EITC and Child Tax Credit, Dependent care expenses, Student loans, educator expenses, Retirement income||$34.95|
|You’ll need this if you are filing: Income over $100,000, Self-employment, Rental property, Itemized deductions, Other income, credits, or deductions||$54.95|
Products and Services
Jackson Hewitt offers customers tax-return preparation services both in-store and online. It provides a free “100% Accuracy Guarantee” on all its work and will pay the penalties and interest charges if any local Jackson Hewitt outlet makes an error in preparing a tax-return. It also promises “Maximum Refund Guaranteed,” meaning if you find you are entitled to a larger refund than what it originally computed, it will refund the tax preparation fees you paid to the company for that filed return. As with other tax preparation practices, Jackson Hewlitt also offers tax-return review, audit assistance, assisted refund, and electronic filing services.
Just as H&R Block has an Emerald Mastercard, Jackson Hewitt has its own prepaid debit card – the American Express Serve Card which allows fast and low-cost access to IRS refunds along with the regular perks that comes with an American Express card. With Jackson Hewitt’s Serve, customers cam make free Direct Deposit of tax refunds, free ATM withdrawals at over 24,000 MoneyPass ATMs nationwide, and savings at places that accept Amex Offers.
The company also has its own tax preparation software for computerized federal and state income tax preparation services. Beginning with the 2014 tax preparation season, it has partnered with Tax Preparer Solutions (TPS) to offer customers an improved full-featured web-based tax software under the company’s Jackson Hewitt Online brand. It is available in four packages – Free, Basic, Deluxe, and Premium.
All packages include free e-file, unlimited free online chat and email support. For those with smart devices, the company also offers free downloadable JH Mobile apps for both Android and iOS platforms. With the Jackson Hewitt Online service, users can import their files from other tax services, including TurboTax, H&R Block and TaxACT. This means that if you filed with a different service last year, you can easily change to Jackson Hewitt this year.
Being an IRS-Approved Continuation Education Provider, the company also offers creditable training for tax professionals on basic and advanced tax courses to maintain professional competency. Through the University of Phoenix, it conducts classes in regular classrooms or online vis distance learning facilities.
Aside from the income it derives from rendering tax preparation services, Jackson Hewitt gets much of its revenue from the sale of franchises. Of its over six thousand outlets, more than 5,700 are franchised stores. It provides its franchisees with approved Jackson Hewitt products, software, and computer hardware, along with staff training and online remote assistance through its Support Center.
Jackson Hewitt Prices
Although slightly more expensive than H&R Block’s, Jackson Hewitt fees are still cheaper than what CPAs and professional accounting firms normally charge for doing tax returns. As may be seen from the table [to be supplied by client], the prices are reasonable. In comparison, according to the 2014 survey by the National Society of Accountants (NSA), a fairly straightforward return without itemized deductions, averaged around $152 while a 1040 Form with itemized deductions and a state return averaged $261. If you have a complicated tax situation, you could end up paying thousands of dollars to your CPA since additional forms require paying additional fees.
For instance, the average cost for preparing a 990 Tax Form (tax-exempt organization) is $667, the average cost for preparing a Schedule E (supplemental income and loss) is $165, the average cost for preparing a 1041 Tax Form (fiduciary) is $497, the average cost for preparing a Schedule E (supplemental income and loss) is $165, and so on.
While Jackson Hewitt uses a freemium business model for its online pricing, the actual cost of tax preparation will be typically based on the complexity of your tax return. Fees will also be generally set locally at each Jackson Hewitt office. Although Jackson Hewitt Online is a self-service option, you may find yourself in a situation where you may need some expert advice. In this instance, you can walk over to the nearest Jackson Hewlett retail outlet for help.
Pros and Cons
In terms of advantages, like Liberty Tax Service which was also founded by John Hewitt, the company offers both affordability and easy accessibility. For home and small business owners, Jackson Hewitt may provide an ideal tax preparation solution. But for those who need to file more complex tax returns howver, they may need to look for other alternatives. As with Liberty, most of the company’s outlets are franchise-operated, and since most of the work in these outlets is just seasonal, it may be that the pool of qualified employees available to support you in the event you are audited may already be limited after the tax preparation months. Thus when you need in-person help with the IRS the most, they are nowhere to be found.
For more information about Jackson Hewitt, visit their official website.