(couldn't figure out how to edit that...sorry!)
I might add, what I LEGALLY put in the bank! I have no interest whatsoever in running afoul of tax laws.
Hello to all!
I'm in the research stages of my first assignment. I hope to start travelling in November, and am signed up with several companies. (TNAA, Sagents and AMH)
I've been to the TravelTax web site, but find myself confused on how the whole tax advantage/per diem thing works. From the travel tax web site and a few other places, I understand that they offer a lower taxable rate but some per diem to get you back to a higher per hour figure, just that you're paying taxes on less of it.
The travel companies seem to think this is a grand idea.
Frankly, it seems pretty good to me, too.
But almost everywhere I read, people say that the advantages of this program benefit the companies far more so than the nurse, and most people advise against it.
I'll be taking company housing (not the stipend) and am trying to figure out exactly what's the best way to go to maximize what I put in the bank.
Thanks in advance!
(couldn't figure out how to edit that...sorry!)
I might add, what I LEGALLY put in the bank! I have no interest whatsoever in running afoul of tax laws.
www.TravelNurseToolbox.com
Read Chpt on Tax Advantage on the online Book
CJ
Basically, the government allows for a certain amount of your money to be tax free IF you maintain a residence and work away from home. Its usually about $8/hr that is untaxed. I also am taking the private housing on my current assignment and have the tax break for owning a home. My base pay is $36/hr but with the break, its like I'm making $39/hr. Heres a good article that kind of explains it.
http://findarticles.com/p/articles/m...10/ai_n9325952