Travel nurse taxes
👀 Deadline to file your taxes: April 18, 2023 👀
Hello there Travel Connex members!
The dreaded tax season is upon us! As a reminder, the last day to file your taxes is April 18, 2023. But don't wait! Taxes as a traveler can certainly be a little more complicated and time consuming than taxes as a staff nurse.
How can taxes be more complicated or time consuming as a travel nurse?
You may have worked for more than 1 company over the course of the year - You have to assure you have all of your W2s from EACH company to file.
You may have worked in multiple states over the course of the year - You have to file state taxes in each state you work and different states have different rates, exemptions, tax laws, etc.
You reside or worked in a state with NO income tax state. Examples include Tennessee, Florida, and Texas. - Uncle Sam is unfortunately still going to get his share of taxes! Even if you worked or permanently reside in a state with no state income tax, you should still get taxes taken out of your check according to the state you DID work in (assuming this state has a tax). Example, even if you permanently live in Tennessee ( a state with no state income tax), and you worked in South Carolina, you should still have gotten state taxes taken out on the income you earned in South Carolina. Hopefully this was done appropriately with your travel nurse company. If not, you likely will owe taxes to South Carolina.
Making sure you are duplicating expenses if you are taking tax free stipends. - As a travel nurse, the way you earn tax free stipends is to be "duplicating expenses". In a nutshell this means that you BOTH pay to maintain a permanent residence whether owning/renting a home AND pay for housing while on assignment. There is a lot of grey area when it comes to duplicating expenses, so for any specific questions please consult a tax professional. You should be keeping records in case of an audit!
1099 employees - If you are a travel nurse who works on a 1099 basis, getting directly contracted out with the hospital, you must keep track of all expenses related to your job. For example: travel costs, scrubs purchase, mileage to and from assignment, etc. It's a lot to keep up with and can be quite time consuming to gather all the info.
You started a business. - Fun fact! One of the best tax breaks you can get as a travel nurse is starting a business! Some nurses have created an LLC for their travel nurse assignments as 1099 employees. Others have just created another side business. For Katie, this is the case. She created two businesses in 2022; her travel nurse blog Nurse Never Lost and also her travel and tourism business, Never Lost Travel. It took her HOURS to get all the info together for both businesses. But the bonus is she benefited greatly in taxes from having a business. If you do start a business make sure to keep track of your expenses from the get go!
These are just a few of the reasons taxes as a travel nurse may be a little more complicated and time consuming compared to filing taxes as a staff nurse. So this is your gentle nudge to get those taxes done!!
do you still need a cpa?
If you are scrambling for a CPA who specializes in travel nurse taxes, be sure to check out our finances and tax resources page! These CPAs are reviewed and vetted by travel nurses. This is also a great resource for your future tax needs.
What's happening at Travel Connex today
📣📣 ANNOUNCEMENT! 📣📣
Are you ready to start travel nursing but feeling stuck on a particular topic or just wish you had direct advice from a veteran travel nurse? Have you already started but needing still needing some help to navigate the tricky world of travel nursing?Help is here!
We now have one on one coaching. Speak with one of our expert travel nurses and get the guidance you need today!
Drew Jones, RN
Founder, Travel Connex
5+ years travel nurse experience
Katie Fitts, RN
Founder, Nurse Never Lost
6+ years travel nurse experience
Are you ready to level up your negotiating skills?
Knowing how to negotiate a travel nurse contract is vital. Learn the best tips and advice from none other than founder Drew Jones!
up and coming at travel connex 📣📣
New blog in the works! Are you in the market to buy a house? You won't want to miss our upcoming blog article about buying a house as a travel nurse. It proves a little more difficult than buying a house as a staff nurse.
Teach Me How to Travel Nurse - Are you feeling overwhelmed trying to start travel nursing and wish you just the step by step plan? Stay tuned for our upcoming course, Teach Me How to Travel Nurse. This course walks you through the entire process of getting prepared all the way up to what to expect on that first week on the job. Cut the confusion and step into travel nursing feeling confident and prepared!
nurses on vacation!
Is just talking about filing your taxes getting you in a tizzy? We get it, sometimes you need a break. We interrupt your regularly scheduled programming to provide you dreams of beautiful vacations!
Katie just got back from the trip of a lifetime with her travel company, Never Lost Travel. She had 12 ladies that went to Egypt for 11 amazing days. They had an incredible time visiting only the best spots of Egypt! They visited the the Egyptian sites of the Pyramids of Giza, the Temple of Luxor, the Great Sphinx, and Abu Simbel. They also took an adventure on a Nile Cruise, a sunrise hot air balloon over the Valley of Kings, and an all day boat adventure on the Red Sea!
Check out more photos on our Instagram!
If you have Egypt envy, she has a scheduled trip going in September with spots available!
thank you!
Thank you so much for taking the time to read our monthly newsletter. And as always, feel free to reach out with any questions, comments, or suggestions. We appreciate your feedback and use it to improve your user experience.
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