Many nurses run into problems with trying to qualify for tax free housing when they do not have a tax home. Contact your tax professional before you travel to be sure you have a tax home before you take any tax-free benefits.
I am planning on starting my first assignment Jan 09. I have heard horror stories about nurses owing enourmous amounts of taxes and needing to file bankruptcy. Can anyone give me advice concering paying income taxes?
Thanks in advance.
Many nurses run into problems with trying to qualify for tax free housing when they do not have a tax home. Contact your tax professional before you travel to be sure you have a tax home before you take any tax-free benefits.
Amanda, RN, BSN
Ex-Traveler Extraordinaire,
Resident Trauma Queen
Here ya go best sources!
Kobaly.com - Your Healthcare Traveler Tax Specialists! TravelTax: Tax preparation for travel nurses and other traveling medical and mobile professionals
If you are confused you need these people
Hands-on tax prep: Tools for travelers to understand and simplify filing returns
What travelers should know
Feb 1, 2008
By: Dan Kobaly, Joseph Smith
Healthcare Traveler
Key Points
It is best to use a permanent address on all returns.
Avoid problems by filing with each state when required.
Contracts should clearly outline your hourly rate and categories of reimbursements.
Your pay stub should reflect the terms of your contract.
When it comes to getting ready to submit income tax returns, by and large, mobile nurses, therapists, and technologists have more to consider than the average taxpayer. But that does not mean filing has to be a huge ordeal or puzzling process. Armed with healthcare traveler-specific information and the appropriate documentation, you'll be less likely to feel overwhelmed and probably find it isn't as time-consuming or mysterious as you might have imagined.
Dan Kobaly, EA, the owner of Kobaly.com - Your Healthcare Traveler Tax Specialists!, and Joseph Smith, RRT, EA, the owner of TravelTax LLC, join forces to provide you with the tools to understand and simplify the practice of filing returns as a traveler. Read on to learn what these experienced tax advisors and enrolled agents have to say about the paperwork you need and your responsibilities concerning state taxation.
State taxation: An overview of terms, issues, and your responsibilities By Dan Kobaly
W-2s and beyond: The healthcare traveler's guide to tax-related paperwork By Joseph Smith
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