One of the most common areas of concern for those preparing to embark on a travel nursing job for the very first time is that of expenses. Moving is expensive. Housing is expensive. Everyday costs of living can be expensive. Luckily, you have a partner. You have The Right Solutions. In addition to your completion bonus, free life insurance and health/dental/vision insurance options, you will also be provided with tax-free travel expense reimbursements to and from each assignment.
But first, you must establish a tax home. This home is the place that is your residency for the portion of the year during which you are not out on assignment. Large recurring expenses (mortgage/rent) are associated with it. Once a tax home is determined, travel deductions can then be filed since nurses are then able to prove that they are frequently away from their main home for work purposes. Those who travel at such an extreme rate that they have no permanent residence, and instead move from one travel home to the next, are ineligible for the deductions.
A nurse must spend some amount less than the full 12 months in any given year in order to be considered a temporary worker in the eyes of the IRS. With a tax home established and travel nursing assignments worked out, the numerous deductions available can then be taken advantage of.
What exactly is eligible for deduction? Travel expenses, meals, housing costs and other work-related expenditures. Always be sure to hold onto all contracts from companies worked for in order to smooth out the process of qualifying for the deductions. Be sure to hold onto all receipts for contracts worked. If you have specific questions as to how expenses are handled, please !