| When you are a travel nurse, then you need to have a | | | | travel nurse meeting the requirements outlined by the |
| pretty good understanding of per diem rates and how | | | | IRS can claim deductions for certain travel expenses |
| they might lower your taxes. Many travel nurses | | | | or receive tax free reimbursements and tax free per |
| believe that per diem is only a tax benefit that staffing | | | | diem allowance payments. These tax benefits are one |
| agencies offer and yet, surprisingly, others do not. This | | | | of the great perks of being a travel nurse. |
| misunderstanding about what per diem is and how it | | | | Unfortunately, one of the most common tax mistakes |
| may affect your taxes is an important financial issue | | | | that a travel nurse makes is not being educated or |
| that you need to understand. How you report your per | | | | even aware of the tax advantages to per diem |
| diem earnings could mean the difference in thousands | | | | deductions. Now that you are are aware that savvy |
| of dollars in tax savings. | | | | travel nurses are eligible for per diem deductions for |
| Whether you are looking to maximize deductions, | | | | every day that they are on temporary assignment |
| reduce taxes, or increase your returns, travel nurses | | | | away from their tax home, pass on the work to your |
| should take the time to learn as much as possible | | | | co-workers, or email them this article so that they can |
| about the IRS per diem tax rules. Certainly, one way to | | | | bookmark this overview and take advantage of these |
| learn is to go to the IRS home page and download | | | | tax benefits themselves. |
| publication 1542 and read the rules so that you have a | | | | It is important to be aware that some companies don't |
| working idea of what to expect by tax time next year. | | | | pay per diem allowance, pay too little per diem, or only |
| Another great resource, especially, now a days is to | | | | pay per diem as a function of hourly pay. You can |
| do your taxes yourself, if you have a personal | | | | learn what these scenarios mean for you personal tax |
| computer or laptop. Turbo Tax is a great software | | | | situation by consulting with a tax advisor or |
| program. Not only is it inexpensive and tax deductible | | | | researching the IRS rules. You deserve to to get |
| itself, but it is very easy to work when you use the | | | | every dollar of per diem related deductions that you |
| step-by-step wizard. You can walk through your entire | | | | are entitled to, and we hope that this article has help |
| tax return, and file it electronically. You can get your | | | | you. |
| refund deposited directly into your checking account in | | | | Note: while much care has been taken to make this |
| a matter of days. | | | | article accurate, tax rules do change. Please be sure |
| A couple of travel expenses to have a heads up | | | | that you are up-to-date on the latest IRS rules. This |
| about include: | | | | article is meant for informational purposes only and is |
| - The travel nurse has a permanent tax home | | | | not meant to replace the advice of a skilled tax |
| - The travel nurse takes a temporary (less than 12 | | | | advisor. |
| months) assignment awayfrom their tax home Any | | | | |