Monday, April 6, 2009

Do I Really Need to Use an Accountant to do my Taxes as a Traveler?

From my experience as a traveling nurse, I have learned that taxes for travel nurses are a lot different to taxes of a non-traveler. The first year I worked as a travel nurse, I didn’t use an accountant and, as a result, I was not aware of all the extra benefits and deductions that I was eligible for. I ended up regretting that I didn’t go to an accountant because I would have done things differently throughout the year and been able to save myself a lot of money on my taxes in the long run.

If you keep a permanent residence as a travel nurse you will be eligible for many benefits. You can even file for a daily cost of living allowance that basically pays for all your food when you are on assignment. The amount that you are allowed for daily cost of living varies from state to state. Your accountant will know where to find that information.

Also, you will need to pay state tax in each state where you work. You can also deduct mileage on your taxes. In some cases, a travel nursing agency may not reimburse you the full amount that you are eligible for in your taxes and you can deduct the difference. These are only a few examples of ways taxes are different for travelers, and accountants can be very helpful in making sure that you maximize your tax-saving opportunities.

When I traveled, I didn’t know of any accountant that specialized in taxes for traveling nurses. However, things have changed over the past few years and there are now several accountants out there who are experts at handlings taxes for traveling health care professionals. They know the ins and outs of everything related to taxes for your situation, and can advise you what to do in the coming year to make the most of your income.

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