Tax Time for Travel Nurses 2018: Update
By now, Travel Nurses and Therapists should be collecting their 2017 tax-related statements and organizing their papers in preparation for filing day, April 17, 2018. We recently provided some basic information about preparing for tax season and felt it was time to revisit the subject to help you stay on track.
- Organize the receipts that you have collected from the past year. Any expense you have incurred that is related to travel nursing should be stored somewhere for easy access. If you have invested in one of the many expense tracking apps for your iPhone or Android, you can simply download the necessary reports. If not, it isn’t too late to find one you like and snap photos of your receipts for organizational purposes.
- Determine which states you will have to file for your state tax obligations. All states, EXCEPT for Alaska, Florida, Nevada, New Hampshire, S. Dakota, Tennessee, Texas, Washington, and Wyoming, require you to file state taxes on wages earned while working in the state.
- Download your favorite tax preparation software. Today, commercially available tax preparation software is fairly simple to use. Most include free e-file programs and use an interview-based process to assist you in preparing your taxes for the year.
- Once all of your W-2’s and other tax documents have arrived, start filing!
If you are feeling unsure or overwhelmed by the thought of preparing your tax returns, you may want to meet with a tax professional. While more costly than filing yourself, an experienced tax preparer can often improve the size of your tax return and even minimize the risk of a random I.R.S. audit.
Finding a Qualified Tax Preparer
The I.R.S. has put together information to help you find a qualified tax preparer at their website here. Included is a link to a brief video that should be viewed by anyone who is considering a paid tax preparer for their returns. Other tips include:
- Check Qualifications. (Visit the I.R.S. Directory of Credentialed Tax Preparers here)
- Visit the Better Business Bureau website for any negative claims against your tax preparer.
- Get the Service Fee proposal in writing.
- Verify that they will E-file your return.
- Confirm they have the availability to file your return on time.
We want to hear from you! What is your go-to strategy for filing your annual tax return? Are you a “do-it-yourselfer” or do you bring your shoebox full of receipts to your local tax professional? Share your story in the comment section below or visit us on our Facebook page.