The Travel Nurse Tax Checklist for 2023
Most people can agree tax season is a chore. No one likes having to gather tax documents and receipts or wait for financial institutions to send statements. And no matter how simple your taxes are, it’s still nerve-wracking to submit them for fear of forgetting a line item or misplacing a decimal point.
For travel nurses, tax anxieties are magnified even more thanks to the many complications of working in multiple states and facilities throughout the year. Add in the complexities of taxable vs. nontaxable income, reimbursements, and various withholdings, and you’ve got a recipe for stress.
Filing taxes as a travel nurse in 2023
The 2023 tax season is quickly approaching, which can be a difficult and challenging time for both seasoned and new travel nurses. But with proper preparation, it doesn't have to be difficult. The key is to gather all necessary documents and seek professional advice to ensure a smooth tax season. Remember, the earlier you start, the more time you'll have to address any issues or uncertainties that may arise.
Preparing your documents and filing your taxes as a travel nurse is complex, so we recommend saving this helpful checklist to give you a good start on tax preparation:
- Gather all W-2 and 1099 forms from each employer.
- Keep track of all travel-related expenses, including lodging, meals, and transportation. These may be tax-deductible.
- Keep all receipts and documentation for continuing education courses or professional development activities.
- Keep track of any state taxes paid throughout the year, as well as any licenses or certifications you renewed.
- Review any tax forms or instructions from your tax preparer or the IRS.
- Seek professional tax advice if you have any questions or concerns about your tax situation.
- File your taxes by the deadline — April 18 — to avoid late fees or penalties.
- Check your refund status. If a mistake is found, contact the relevant authorities.
Remember, being proactive and organized can make tax season less stressful and more manageable. It starts by having your ducks (and your documents) in a row.
Tips to stay organized and prepared for next tax season
Plan and be proactive. Tax planning and forethought can help you avoid surprises during tax season.
- Save all receipts and documentation for expenses throughout the year; this includes lodging, meals, transportation, continuing education courses, and professional development activities.
- Use tax software or seek professional help. Tax software can help you navigate the filing process and ensure you take advantage of all tax deductions and credits. Tax professionals also can provide guidance and answer any questions you may have.
- Keep track of state taxes paid throughout the year, as well as any licenses or certifications you renewed. Review any tax forms or instructions from your tax preparer or the IRS.
While tax season may be a drag, the good news is, it comes only once a year. Get into good habits about tracking expenses, saving documents, and organizing your paperwork, and you’ll find it’s easier to manage than you might think. And if all else fails, partnering with a reliable CPA who understands the unique challenges travel nurses face is always a good idea.