To stipend or not to stipend?

gsusavz · Apr 4, 2012

Well I will share the littl I know about the questions you have. I have completed over 28 travel assignments and I can say that is you have a home the tax advanatge the perk of decreasing your taxable income. I also has the disadvantage of decrease your income on your pay statements and that will impact your purchasing power for a car, home etc becuase you income will appear to be much lower than it actually is.

As fo Stipend or not, if you take the stipen you will be required to take care of all your own deposits, utilities and related deposits and any furniture rental you require. But, it can work in your favor if all this adds up to be less than the monthly stipend. It is important to remember that if you accept the stipend and you do not use it all for expenses for housing, utilities, cable phone, furniture etc the amount you do not use becomes taxable. You will need to keep meticulous records for tax time. If your company takes care of your housing it is all on them to document the expense.

As for home of record, if you have the legit option of NC or Florida I would selct NC only becuase you can keep your comact liecense and they can be very handy when you travel.

I hope this is helpful.

dreamworx07 · Apr 5, 2012

Gsusavc, thanks for the reply! That is a great thought about the compact license! Since I have not experienced taking the stipend, how much time and effort is involved in setting up everything myself-especially things like furnishings. Do most property owners require a credit inquiry? Seems like it would be alot of traffic on my credit which could be a big negative. Anyone run into these problems?

gsusavz · Apr 5, 2012

It can take a fair amount of research on your part, you have options of renting an apt or vacation home. I will list some resources I use at the end of the email. As for you credit and inquiry. As you begin there will be several inquiry for furniture comanies etc. But once you have set up accounts with companies they will not check credit everytime.

www.cort.com (funiture rental)

www.vrbo.com (vacation rentals)

www.homeaway.com (vacation rentals)

www.whitefence.com (resource for utilities, adddress changes, appliance rental)

www.rentals.com (rentals)

www.apartmentsearch.com (rental)

www.apartmentguide.com (rental)

Always check wht apartment complex with local lawenforcement websites or a phone call to ensure it is safe.

Happy travels

dorie43rn · Apr 7, 2012

I'm a first time traveler, and I took the stipend this time, but never again! I'm letting my company provide it. I've been staying in a rundown motel for 60.00 a day. I've been chasing all kind of places, but they are extrememly high priced and crappy! I'm home right now, but going back to my rundown motel yet again on Wednesday. I'm frustrated! The couple hundred dollars extra in my check is not worth the aggravatioin to me at all.

hgrimmett · Apr 8, 2012

Florida is not a compact state, neither is GA, but there's also no state income tax in FL. GA has that stupid intangibles tax (the one where in addition to paying for your car tags every year, you have to pay a yearly tax on how much it's currently worth. Crazy.) Dunno about NC's taxes but I imagine you have a handle on those since you've been there a while. Anyhow just some things to keep in mind when contemplating where to pick for a home base.

msprisz.rn · Apr 9, 2012

Thanks for the websites. Im currently on assignment in FL and decided to take stipen. and I'm living in an extended stay hotel and it's not that bad. I guess it's all about what your preference is.