Travel RN Tax Questions

[Birdsofprey, BSN]

Hi!

I am a relatively new travel RN and I am wondering if anyone has any good resources for finding a good tax accountant who specializes in travel nursing or is very knowledgeable about it. I need someone who can help determine what I can deduct, sole proprietorship versus LLC, etc. Any feedback is appreciated. Thanks!

[NedRN]

There is a list on PanTravelers of such travel tax specialists. Joseph Smith (TravelTax) used to be a healthcare traveler and maintains an informative website, and Dan Kobaly who has written a ton of tax articles for travelers are perhaps the two best known ones in our industry. Pretty standard to have a free telephone consult on specific questions for most tax specialists.

If you are working for an agency, there is little point in figuring out differences between business entities - you don't need one without 1099 revenue (as an agency employee, you will get a W-2, not a 1099).

If you want to be an agency (best way to contract directly with hospitals or vendor managers), yes, lots of differences. Any business startup book is going to have a basic entity comparison, and much depends on your own preferences. This blog here is about starting a personal travel nurse agency and includes discussion about entity differences for deductions and benefits. There have been some fairly recent changes in tax law and so being a sole proprietor is not as good anymore as a corporate structure such as an LLC. Choosing "pass-through" versus "regular" taxation has large implications after you pick an entity type.

[Birdsofprey, BSN]

17 hours ago, NedRN said:

There is a list on PanTravelers of such travel tax specialists. Joseph Smith (TravelTax) used to be a healthcare traveler and maintains an informative website, and Dan Kobaly who has written a ton of tax articles for travelers are perhaps the two best known ones in our industry. Pretty standard to have a free telephone consult on specific questions for most tax specialists.

If you are working for an agency, there is little point in figuring out differences between business entities - you don't need one without 1099 revenue (as an agency employee, you will get a W-2, not a 1099).

If you want to be an agency (best way to contract directly with hospitals or vendor managers), yes, lots of differences. Any business startup book is going to have a basic entity comparison, and much depends on your own preferences. This blog here is about starting a personal travel nurse agency and includes discussion about entity differences for deductions and benefits. There have been some fairly recent changes in tax law and so being a sole proprietor is not as good anymore as a corporate structure such as an LLC. Choosing "pass-through" versus "regular" taxation has large implications after you pick an entity type.

Thank you!