
Tailored Healthcare Staffing's Tax Advantage Plan lets you use the IRS rules to maximize your take-home pay. Here's how: As a healthcare traveler you probably maintain a primary residence and earn your wages by working away from your home. As such, some of your expenses are likely duplicated between your primary residence and where your work assignment is located. To address this issue, the Internal Revenue Service (IRS) allows certain tax breaks for healthcare travelers that meet the IRS guidelines.
SPECIFICS
The IRS recognizes that some occupations require duplicate expenses, so they created a table of rates that estimates the average food and housing costs for each U.S. city. These rates are called "per diem" or daily reimbursement rates for two categories of expenses: (1) housing and (2) meals & incidentals.
We combine these "per diem" rates into its compensation plans for travelers to maximize the "take home" pay. As a result, you keep more of your money rather than paying more in taxes - usually hundreds more dollars per week!
DO YOU QUALIFY?
To qualify for our Tax Advantage Program, traveling healthcare professionals must meet a few simple guidelines as set forth by the IRS:
- You must have a permanent residence where you reside and pay taxes. If you constantly travel and have no permanent residence, you likely will not qualify for this program.
- Your permanent residence must be different from your travel assignment location. The commute to/from your permanent resident to your travel assignment must be more than 50 miles each way for you to qualify for the tax advantage program.
- Your assignment must be less than one year. You may have multiple travel assignments and extensions of assignments, but each original assignment must be less than a year. All expense reimbursements for assignments that are longer than one year are fully taxable.
- Questions regarding your specific situation should be directed to your personal tax advisor.
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