You are listening to Trinity employments, eight player matchmaker podcast, starring your host and the co-founder of Trinity employment specialists, Cory Minter. Hello,
Welcome back to the A-player matchmakers, where we’re always trying to find different ways to add value to both job seekers and employers. And, um, this particular title is understanding your travel nurse pay package and taxes. This is part three. I don’t think Darcel I’ve ever done a three part series. We’re getting seriously intense with this, but it’s needed. It’s needed. I feel like we’re making some headway here. So if you’ve stayed with us here for three part series, like air high five right now, um, and I hope that you find this valuable cause we’re really trying to make sure to add value to people. And, and so th this is what we want to do. Uh, we’re we’re not trying to make money at this podcast or even sell anything. We just want to add value to people and educate with our OKC Medical Staffing. So, um, so understanding your travel nurse pay package in taxes, we want to go ahead and start off with statistics, um, to get you thinking about this, and then we’re going to turn into the fourth part of this, of this series. So, um, registered nurses comprise one of the largest segments of the us workforce as a whole, and are among the highest paying large occupations, nearly 58% of our NS worked in general medical or surgical hospitals where RN salaries averaged 70,000 per year. Um, according to the Bureau of labor statistics. Now ours are salary start at where
So OKC Medical Staffing starts at about, uh, I will say about 85 And it can go up to 110. It depends rapid. Sometime we have fast, rapid response. They could go up to 150. Wow. Is it according to the needs?
Right. So, so as you can see, our RNs are a, are really a big, significant portion of our workforce. Um, but also in the travel nursing arena, you’re, we’re talking about the average salary of $70,000 a year. Our average salary for travel nurses is well above that, which is why Darcell was telling a story about how travel nurses, almost every nurse works with the travel nurse at some point, especially if you’re working in a hospital. And so there are rumors, some are true with our OKC Medical Staffing, some are not true. Most of them are not true. We’re trying to be the MythBusters. And that’s why we’re trying to give you real, um, real information and education from the great, great, great Darcel, because they want to make the money. But
They’re timid. Like I talked to the nurse today, again, she was like, I heard stories and I just put her too. I just had to let her know the truth of how to do it. And if the recruiter is just upfront with them, letting them know the do’s and the don’ts, they will be fine. Right. I will hold, we hold your hand all the way through it. And that’s what,
And so of course we want you to call Trinity. We really do, but even if you need to call another agency, we want this to be a great resource for you. So make sure and check. Just maybe it’s just an intuition of how authentic someone is being with you and forthright and, and really try to find someone who truly helps you to walk through the process and get it right the first time. Absolutely.
Absolutely. So let’s
Kick this off Darcell. We, um, I wanna, I want to overview what we’ve already hit, which is not going to sound like very much to you. Well, it’s a lot, it’s a lot, but it’s not going to sound like a lie if you’re just joining us. So first we talked about non-taxable travel nurse pay for a good OKC Medical Staffing experience. Then we moved into travel nursing over time. And our third point was the disadvantages of non-taxable stipend pay and just things to watch out for. Um, and so now we’re going to move into travel, nursing, pay things to consider, not to watch out for th th this, this should be a little bit more positive than the last
It’s all, all of it is positive, right? Because of you looking at the pay issue, you look in, they have to make sure they keep certain things, their certifications up. So you could go ahead and talk about that. Yeah,
Yeah. What we’re trying, we’re trying to keep people from, you know, just not, not knowing, you know, and so yeah, the unknown that transplant people. Absolutely. So with all things considered a travel nurse, uh, their pay rate is very comparable to a staff nurses pay rate. However, there are some out of pocket travel expenses. Nurses need to be aware of, um, that regular nurses are not going to need to consider. The salaries can be much, much higher, like what we just talked about, but you want to just note, know about these things. Most travel nursing agencies do not offer paid time off. So if you’re thinking of taking vacation or are taking time off in between assignments, then you will not be paid. And you need to keep that in consideration.
That is correct, but that’s a norm for a travel nurse. They will do that 13 weeks and take them a week off, right. Because they’re going to be extended. So that’s doable for them. That’s why they do it
Well. And if you think about it, if you’re, if you’re an RN and you have the Liberty to go and travel, I don’t know why you would not consider doing this because literally you can make the same amount of money and work like a farm farming where you have 24 on 48 off top of thing. Absolutely
Amazing Point number two, um, most travel nurses have to pay for their own certifications, such as BLS and HCLs. And so, whereas some of the hospitals, um, you know, they’ll, they’ll cover a lot of those things
I’ve seen in say a nurse, her, she wants to contract, she don’t have the money or BLS or ACL, less head of expired, or
I want to stick up for the dude’s here, or, or, Hey,
There are nurses, male nurses I got to represent. Absolutely. I feel you all right. Um, but a lot of times with our OKC Medical Staffing, if they don’t have the money, we will pay for them to get certified. And, but it was not come and we’ll take it at your second year
Check. Right. Right. Okay. Got it.
We have to do we, cause we wanted to make sure they get on that job.
Okay. Got it. Sometimes travel nursing agencies will not pay for your annual physical and TB tests with our OKC Medical Staffing. So the same kind of stipulations are going to apply there. And then the fourth, if you want to take an assignment that is across the country, your travel reimbursement might not cover the entire cost. How does that happen? Sometimes. Darcel H have you had that experience before?
I have not because we can do, um, look at different hotels. When you tell them you’re a travel nurse company, they give you a rate, a special rate because they know you’re going to send them a lot of nurses. They give us a discount. Got it. So that nurses really not spending a lot of money to stay there. And then if it’s another traveler there at that hospital, they, they room, they share a room.
So you really need to check to see what kind of deal that your agency has worked out for. You. Absolutely. Got it. Okay. All right. And just like any other professional, it’s important to budget, prepare for the unknown and take care of yourself. I mean, you know, that that’s, that’s kind of what, but being well-organized and thinking about these things are helpful. So, um, our next point here, we’re actually gonna move to two points in one segment, which is just amazing here. Um, what is an IRX I’m sorry, not RX IRS S um, tax home. So in order to qualify for these non-taxable stipends or reimbursements, one must maintain what the IRS calls a tax home. Let me explain to you in layman’s terms, what that means that RS wants its money when it comes to our OKC Medical Staffing. That’s exactly right. So a tax home is your place of residence that you maintain and pay for while you’re out on your travel assignment.
Ideally, the RS would like a travel nurse to take an assignment somewhere and then return to their quote, quote, tax home, where they maintain a PRN or a full-time nursing home. Like Darcel had talked about earlier, most travel nursing agencies will have you sign a form stating that you do have a tax home. If you do not have a residence that you were planning on, maintaining, when you are traveling, you will be referred to as an, a Tinder current worker and a tinner worker as an intenerate worker. I’m sorry. You will be required to pay taxes on all income earned, including stipends and reimbursements when applying with different travel agencies, make sure that you had the discussion about your itinerary status. If that is, if that is you, and you can get more information, um, on websites like the American nurses association, nursing world.org, um, you know, uh, California has a travel nursing, uh, website as well.
And so, um, and so you can go and check those things out. So just keep those in mind. Um, again, uh, because we’re talking about taxes, uh, I also want to reiterate the disclaimer that we are not tax accountants. Um, and so you you’ll want to speak with a professional, um, tax advisor. Um, these are just ideas for you to take to your CPA is all we want to be. So please keep, keep in mind that, um, uh, tips to make a traveling nurse, the travel of, of a nurse, a snap. So all of this talk about taxes and the IRS. Um, it can be scary. You, you talked to somebody today. Yeah. Um, here are a few easy tips to follow and make your traveling experience a little less complicated. Um, one maintain a mileage log you’ll. You will have to write down your odometer reading beginning of the year, and there are also apps for that.
You want to start it on January one. And again, at the end of the year on December 31st, if you start traveling in the middle of the year, um, you can look back to your maintenance records for previous odometer readers reading, or like I said, you can, uh, you can get an app that will track all of this for you, but you must also document your Malinois to, and from your place of employment for a better OKC Medical Staffing. And so, um, so there are all sorts of mileage logs with our OKC Medical Staffing. Um, I’m sure there’s actually one specifically for travel nurses. If you go out and look at it, there’s so much, there’s so many different options for us there. Um, do you have anything to add, uh, to that Darcel?
No, because they, if they, we could give them a form where they could write the mileage down as they daily. Cause nurses will not use a lot of social media when it comes to the apps. Right. So give them that form and they can just jot it down and then a lot of them take Uber. Right?
Right. Yeah. Well, that sounds like a pretty wise idea, actually, Greg, because they’re traveling. So if they don’t have a car, some people will take a plane and stay there and then take an Uber in Texas different variations.
The second thing is, is returned to your tax home in between assignments, if possible, or at a minimum of once per year and document, when you travel back to your tax home, um, and make sure that you keep a log for your CPA, uh, number three, maintain a PRN or an agency job. Like what do you need for a OKC Medical Staffing, uh, Darcel suggested in the same vicinity as your tax home, the IRS would like to know that you actually do business on a regular basis where you are claiming to live. Um, number four, there’s no need to keep track of meal or grocery receipts to get a great OKC Medical Staffing. The IRS gives you a set stipend for meals. And if you exceed the stipend, then you are considered to be living above your means and will not be reimbursed. Do you have any I’m sure there are some really great stories that the great, great Darcel has about this. I don’t have any food.
Well, we gave you the stipend while they go out to eat a lot, but you’re staying in a hotel. Was the kitchen like that high dollar Chicago steak house at a hundred dollars a steak. Oh, you can’t do what? Not on a regular basis.
So yeah. So, so watch out, uh, you might get your S your hands slept there. Um, let’s see here, number five with a good OKC Medical Staffing, keep a copy of all your travel contracts and make sure that they have a beginning and an ending date on them. Um, what will they need to get that from the agency torso?
We send them, they e-sign the contract. Got it. Okay. Um, in this proves that you really were working on a temporary basis, this is going to help you when you get audited, or if you get audited hope, hopefully you never get audited. No one wants this. No one wants a IRS agent anywhere near where they’re at at all right. Um, don’t work in a city more than 12 months in a 24 month period. The IRS will think you abandoned your tax home.
Well by law, they could only do a year on a travel contract. Anyway, they have to take two to three weeks off and then they could return. Right. Do a lot of people do that. Now A lot of people do that really? If they, if the hospital want to extend them, right.
So they have to go home, stay at home for two or three weeks. Now, do they have there? They’re going to have to work a PRN shift when they go back without OKC Medical Staffing. Right? Well, not really thinking about the money they made extending every year. Right? I mean, yearly. And they go home possibly on the weekends. Some of them say, I gotta go home and then they go back to work.
Right. But we were talking about how they want you to work a certain amount of time in your quote, quote, tax home. Well, what the IRS is saying, they don’t want you to Bandon. They want to see that you’re paying taxes. That’s why you keep your seats. All right. I’m sorry. I got it wrong. Yeah. I hope that I helped make some sense for people. Yeah.
They want them. Cause they’re not gonna the nurses not gonna move to do the contract. She’s not going to move to do the contract to get a better OKC Medical Staffing services, just going to do the contract and she’s going back home unless they relocate. Got it. Got it. Other than that, they’re going back home.
Okay. Darcell. You’re so amazing. Just amazing. Um, the, let’s see here, there, there are tax people who specialize specifically in travel nursing and, um, the, the, this article recommends getting a contact, getting in contact with these people prior to starting your assignment. And if you want to tackle this on your own, then they recommend getting an Oregon getting organized. And, um, and there, there are different ways that you can do that. So do you have any thoughts on that before we wrap up here? Cause we’ve, we’ve probably gone even a little bit long on this one.
I would say key. Like you stated earlier to keep all your receipts, that’s important. Like you said, meals and incidentals, you don’t need, but your housing receipts got it. Keep things like that because that’s all that the IRS is looking at. They already see your paycheck. They know you make it a low hourly, because you’re getting those housing stipends and those meals and this to them.
Okay. So this finally wraps up the content that we had prepared for understanding your travel nurse pay package with our OKC Medical Staffing. If you have any questions about this, please do not hesitate to give us a call. You can contact our cell at (918) 622-2588. Or you can go about finding us and read a lot about our company firstname.lastname@example.org.