Quote from katieglo
Hi Everyone! I am enjoying reading all the posts on traveling. I plan to travel in one year and want to gather as much information as I can on the lifestyle. As a nurse with 25+ years experience, I don't think I'll be making much more as a traveler than I do at my current job. However, it seems like the tax write-offs and housing stipend may make a big difference at tax time. (I plan to live with my family and forgo the free housing offered by agency.) Where can I go to find out the tax write offs and all the fiancial pros and cons of travel nursing? Any advice would be appreciated.
I've been a Nurse for 28 yrs. I've been traveling on and off for 6 yrs. You'd be surprised that you can make far, far more money as a contract local agency Nurse vs. traveling with m's and i's by far. There is a huge change that has taken place in travel nursing and that change is pay. Some salaries offered are absolutely insulting to Nurses with experience. I can do better on staff here in Fl. with all the write offs put together.
Truthfully, the money is in the local agency contracts and what you should think about is doing this and supplying your oen housing and getting familiar with what can or can't be a write off with a good CPA.
For example, there is a standard table for per diems. There are tables for meals for example. Much easier to use for your tax preparer by far. As for lodging, do it yourself. Keep your receipts and give them to your Accountant at tax time. If you ship your car because the State you want to go to is way too far for you to drive, the shipping is also a write off so again I say keep your receipts. All your insurances are also against your taxes like liability,medical/dental, lots of things including car insurance and oil changes,repairs and tires for ex. Gasoline is calculated by mileage to and from work and also if you drove to and from the assignment.
Right now, my local agency job is paying me top pay and I'm working ot on most weeks. I'm home, no worries about a thing and it feels good to be home. I love to travel and then I love to return home. If I work out of State for even one contract, I can write off a ton of stuff which always makes it worth the trouble.