Travel nurse tax home and what it means
Though tax season has come and gone, it’s still important to keep up on your tax know-how. You may have heard the term “tax home” as it applies to travel nursing and wondered what it means. Well, you’ve come to the right place!
What is a travel nurse “tax home”?
Simply put, your tax home is the region where you earn most of your nursing income. Having a tax home allows you to save on taxes for certain travel expenses (tax deductible expenses) when you’re away from your tax home. For many travel nurses, their tax home is their permanent residence, the place where their driver’s license is registered.
How do travel nurses maintain a tax home?
The IRS requires that travel nurses satisfy three requirements to maintain a tax home and save on tax deductible expenses:
- You work as a travel nurse in the area of your permanent residence and live there while you’re working.
- You maintain living expenses at your place of permanent residence.
- You have not abandoned the permanent residence, and you or members of your family live there.
You can easily maintain a tax home by making sure you return home to work for at least part of the year in between travel nurse assignments. Your travel nurse recruiter can answer any questions you may have about tax homes for travel RNs.
What expenses are considered tax deductible?
Tax deductions for travel nurses include expenses incurred while traveling away from your tax home. In other words, the money you spend on certain items while you’re away from your permanent residence on travel nurse placements. These include: housing and meals, dry cleaning and laundry, tolls and parking fees, train and bus fares, and internet expenses.
Need more tax help?
Your travel nurse recruiter is your number one source when you have tax questions! And if you’re currently in search of your next travel nurse assignment or a top travel healthcare staffing agency, check out MedPro Healthcare Staffing! We’ll work with you to find placements in the best cities for travel nurses. Plus our MedPro Experience Program helps ensure each placement is your best yet. To learn more, contact MedPro today at 1-800-866-8108, or apply below.
Want to read more? Check out our past posts:
- Travel Healthcare Professionals: Five Common Tax Mistakes to Avoid
- Tax Season! Eight Tips for Filing as a Travel Nurse
- Housing Tax Breaks You May Encounter While on a Travel Assignment
- Traveling Healthcare Tax Tips: Deducting Transportation Expenses