I wanted to let you in on some savvy tax-time tips from veteran accountant Joseph Smith of TravelTax. For more than 20 years, Joseph has been an accountant specializing in traveling professionals, including healthcare travelers.
Here’s a little of what he had to say:
1. Keep good records, including your contracts and expenses. I’m talking about records such as anything reported to the IRS, like mortgage statements, W2’s and college tuition. As a healthcare traveler, you leave a cookie trail with every state you live in and every assignment you take. When you file your tax return with him, Joseph said he makes sure to look at where you’ve been.
2. State tax returns are often more important and the most difficult to file. This one’s important if you’ve worked in multiple states in one year. Just be sure you’ve got all your tax records from each state.
3. Big refunds don’t necessarily mean a good return. If you get a big refund, this might be because you’ve withheld too much money for taxes. This is money you could’ve already had in your pocket, instead of having to wait for a refund to get it.
I’ll fill you in on more advice in my next blog post about taxes, so be sure to check back soon. But until then, check out Joseph’s website at www.traveltax.com for more information.