- Talking Taxes: What kind of records does the IRS want me to keep?
- Talking Taxes: GSA Rates
- Talking Taxes: What is Tax Advantage?
Figuring out what a ‘Tax Advantage’ program is can be confusing. Many travel nursing agencies will offer tax-free portions of your pay and most will refer to this as some sort of Tax Advantage Program. Travel Nurses MAY be eligible for tax-free reimbursements or allotments if they meet certain restrictions. We will discuss these restrictions at a later date.
I consulted with my tax experts at Travel Tax and asked them to explain Tax Advantage Program.
Ok, that makes it a little easier to understand. Now, Why do I care about tax advantage and does it even benefit me?
1) The company that says “we offer a tax advantage program” is not giving you anything different from the one who reimburses you for your miles and gives you meal per diems or housing stipends.
2) There is an advantage to taking these reimbursements from your company instead of deducting them at the end of the year. - Daina Smith
Hopefully you now have a better understanding of a Tax Advantage Program. If you have further travel related tax questions, you can contact Travel Tax or check out their website at TravelTax.com for further information.
Owner at The Gypsy Nurse
As a travel nursing educator, Candy aka Gypsy Nurse, RN has worked in healthcare for nearly 20 years, working up the ranks from CNA to LPN to RN. For the past eight years, she’s worked as a travel nurse, allowing her to practice and live in 14 states throughout the U.S. She regularly shares advice for those interested in travel nurse jobs on her website at: www.thegypsynurse.com.
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