Tax season is upon us—are you ready? If you’re a medical professional working a full-time permanent placement, your employer has been withholding taxes for you throughout the year—you simply need to file for your annual return and you’re all set. But if you’re working as a travel healthcare professional, your tax responsibilities are a bit different. Here’s what you need to know.
Four tax tips for travel healthcare workers
April 18, 2016, is this year’s tax filing deadline. But everyone likes getting a tax refund if they have one coming, so the sooner you file, the better. You can sail easily through tax season with these four helpful tips.
- Know the difference between your tax home and work site home. Most states require you to pay income tax to the state/s in which you’ve worked, but others may require you to pay income tax to the state in which you live (your tax home). The only states that do not require income tax are: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. Your recruiter or a tax professional can help you understand your tax requirements, so you file correctly for a return come tax season.
- File your taxes on time. Time does have a pesky habit of getting away from us. But many tax professionals keep extended hours during tax season to help ensure everyone gets their taxes filed on time. Make a quick phone call and schedule an appointment. You may also wish to file yourself using IRS E-file, though you may find it much faster and easier to leave your taxes to the experts. You may also wish to check your local library, as many offer free tax resources to the community.
- Track expenses and keep receipts. You may be able to claim tax exemptions for certain expenses you incurred during your travel assignments. These may include: dining, transportation, fuel and utilities. It’s important to save all your receipts and track your spending in a notebook. Bring all of this information to your tax appointment to get full credit for all exemptions. If you’ve overlooked this for 2015, be sure to keep record of all your on-the-road spending in 2016.
- Check with your recruiter. He or she is extensively familiar with the travel healthcare industry and will be able to give you advice and information about filing your taxes on time and correctly.
Looking for your next assignment?
MedPro Healthcare Staffing can help. We are a healthcare staffing agency that works with healthcare professionals for travel placements in nursing, therapy, pharmacy and allied healthcare. To learn more, contact one of our experienced recruiters today or click below to apply today!