Tax season tends to bring on the groaning, moaning, and uh-oohing for many employed individuals. But don’t let this For season spook you! Did you know that as a locum tenens physician, not only do you get great pay, but you also receive great tax benefits?
- Pay attention to detail. Your nomadic lifestyle as a locums physician constitutes you as an independent contractor. This status allows you to deduct certain business overheads like wholesale nfl jerseys travel, housing, transportation, food, medical license fees, work tools and supplies, continued medical education, and much more. Gretzky Unfortunately, since your taxes are not withheld throughout the year, this means that you must pay very close attention to For record keeping and detail. Never throw away any expense receipts!
- As a traveling physician, you are more likely to change your address repeatedly. If you keep your address updated, you are less likely to experience Patients delays in important documents or paperwork.
- Pull out employment contracts and pay stubs from the year and make multiple copies. Contracts outline compensation and reimbursement items required for your tax return.
- A helpful tax wholesale NFL jerseys pointer is to bundle deductions within one calendar year. If you are making a charitable contribution, paying off student loans, or in need of new equipment, be sure to do it before you file your taxes.
- If you don’t already have a tax advisor, start researching and interviewing now! If you are doing your taxes by yourself, make sure to find a Football software that works best. But did you know that there are many accountants that concentrate in “mobile workforce” tax filing? These accountants will ensure that traveling physicians reap as many benefits from the nomadic lifestyle!
- You can’t file electronically until February 1 or later.
- 2014 is the first year of the health wholesale jerseys insurance mandate.
P.S. If you need to file an extension, do it!