Welcome to Travel Nurse Guide
Houston Nurse Job Article
This is a selection made from among articles on Houston Nurse Job. For a permanent link to this article, or to bookmark it for future reading, click here.
from:
Travel Nurse Employment: Tax Advantages of Per Diem Deductions
By Jeff Morrow
When you are a travel nurse, then you need to have a pretty good understanding of per diem rates and how they might lower your taxes. Many travel nurses believe that per diem is only a tax benefit that staffing agencies offer and yet, surprisingly, others do not. This misunderstanding about what per diem is and how it may affect your taxes is an important financial issue that you need to understand. How you report your per diem earnings could mean the difference in thousands of dollars in tax savings.
Whether you are looking to maximize deductions, reduce taxes, or increase your returns, travel nurses should take the time to learn as much as possible about the IRS per diem tax rules. Certainly, one way to learn is to go to the IRS home page and download publication 1542 and read the rules so that you have a working idea of what to expect by tax time next year. Another great resource, especially, now a days is to do your taxes yourself, if you have a personal computer or laptop. Turbo Tax is a great software program. Not only is it inexpensive and tax deductible itself, but it is very easy to work when you use the step-by-step wizard. You can walk through your entire tax return, and file it electronically. You can get your refund deposited directly into your checking account in a matter of days.
A couple of travel expenses to have a heads up about include:
- The travel nurse has a permanent tax home
- The travel nurse takes a temporary (less than 12 months) assignment away
from their tax home
Unfortunately, one of the most common tax mistakes that a travel nurse makes is not being educated or even aware of the tax advantages to per diem deductions. Now that you are are aware that savvy travel nurses are eligible for per diem deductions for every day that they are on temporary assignment away from their tax home, pass on the work to your co-workers, or email them this article so that they can bookmark this overview and take advantage of these tax benefits themselves.
It is important to be aware that some companies don't pay per diem allowance, pay too little per diem, or only pay per diem as a function of hourly pay. You can learn what these scenarios mean for you personal tax situation by consulting with a tax advisor or researching the IRS rules. You deserve to to get every dollar of per diem related deductions that you are entitled to, and we hope that this article has help you.
Note: while much care has been taken to make this article accurate, tax rules do change. Please be sure that you are up-to-date on the latest IRS rules. This article is meant for informational purposes only and is not meant to replace the advice of a skilled tax advisor.
Learn more about Travel Nurse Deductions and Financial Issues at the Travel Nurse Employment Portal. Or, to find Travel Nurse Jobs that updated every two hours from around the web . . . let
us help you find your next travel nurse position.
Article Source: http://EzineArticles.com/?expert=Jeff_Morrow
http://EzineArticles.com/?Travel-Nurse-Employment:-Tax-Advantages-of-Per-Diem-Deductions&id=212411
Houston Nurse Job Specific links
Houston Nurse Job News
Abilene man thankful for God's blessings after frightening ordeal
When he fell just yards shy of the finish line during a half-marathon in Houston, Nathan Hathorn's greatest challenge began.
Read more...HISD Tops in Breakfast Participation
Houston schools are near the top of their game when it comes to starting the day off right.
Read more...Moving up
Gordon chief of staff at UA Medical Center
Read more...ROAD TO LONDON: Wilmington athlete finishes 73rd in time trials
WECT's Colin Hackman is in Houston with Wilmington nurse Christa Immarino, who competed in the time trials for the US Marathon team. Immarino finished 73rd among the nearly 200 runners and in the top ten among women over 35. Inside: Follow Colin's live updates via Twitter on the trip to Houston. (#ILMRunner)
Read more...Vipers play Legends in first of three back-to-back road series
Playing on the road suits the Rio Grande Valley Vipers. That's why Vipers coach Nick Nurse doesn't mind heading on a six-game road trip beginning tonight.The Vipers (16-9) have the NBA Development League's best road record at 9-3. Tonight, the Vipers play against the Texas Legends...
Read more...BOYS BASKETBALL: Langham Creek shakes up 17-5A, knocks off No. 14 Cy Falls
The playoffs came a few weeks early for Cypress Falls and Langham Creek. At least that's what it felt like to players and coaches Friday night.
Read more...Op-Ed: Funding Needed to Keep Texas-Trained Doctors in State
Our state does indeed face a shortage of physicians, most significantly those who specialize in primary care.
Read more...Two Spokane women endure to reach U.S. Olympic Marathon Trials - Wed, 11 Jan 2012 PST
Last December, at a marathon starting line in Sacramento, Calif., Spokane women Rachel Jaten and Victoria Russell crowded together with 80 other women who shared the same goal: qualifying for the U.S. Olympic Trials. On Saturday, both will be in Houston living the dream. How they qualified is remarkable.
Read more...College Basketball Capsules - Men: No. 6 Baylor edges Oklahoma State
STILLWATER, Okla. (AP) — Quincy Acy kept working, even when a 95 percent foul shooter went to the line late in the game.
Read more...MLB Capsules - NL: Astros, LHP Happ agree to one-year deal
HOUSTON (AP) — Starting pitcher J.A. Happ has agreed to a one-year contract with the Houston Astros, avoiding arbitration. The left-handed Happ and the Astros reached a deal Tuesday for $2.35 million. He made $474,000 last season.
Read more...