![]() You can also download a separate mileage tracker, like MileIQ ( Android, iOS ). There are many personal finance tools (some free) out there that can help you categorize your expenses for your deductions, and track them quickly and easily, like Expensify ( Android, iOS ) or Freshbooks ( Android, iOS ). No doubt the best way to make tax time quick, easy, and get the largest deduction possible is to track your expenses year-round. Some of these items may feel petty to document, but they can add up in your deductions. The ones that nurses most commonly list are cleaning supplies (disinfectant, hand sanitizer, paper towels, etc.), educational materials and reference guides, protective gear (PPE, scrubs, etc.), small medical tools (blood pressure monitor, stethoscope, etc.), and occasionally equipment rental. The possible deductions here are broad, from disposable everyday items to long-lasting medical devices. Less known to some nurses, you can deduct the cost of your cell phone and internet services, as well as transportation costs (car insurance, mileage, gas, parking fees, etc). You can even deduct membership fees to professional organizations like the ANA. License, Certifications, and MembershipsĪre your nursing license fees and certification fees (like BLS, ACLS, PALS, etc.) tax-deductible? Yes, absolutely. You can even attend nursing workshops and conferences and write off the costs. You can attend the CEU sessions you want and add them to your deductible expenses. So if you were trying to maximize those free CEU sessions, you don’t have to. Continuing EducationĬontinuing education is tax-deductible. Self-employed filers can put away even more money toward their retirement than standard employees. For independent contractors, it’s doubly so. IRA Contributionsįor most individuals, putting aside money for retirement is the best way to plan for the future and save on taxes. We’ll share with you here the most common write-offs for contractor nurses, but for a complete list of deductions especially for nurses, check out Intuit’s industry-specific tax deductions (select Nursing from the drop-down). For example, you can write-off liability insurance, professional services like tax preparation, and even your personal health insurance. Most nurses are wholly unaware of the many day-to-day expenses that are tax-deductible for self-employed nurses. Here you’ll find the definitions to key terms, like sole proprietor ( Schedule C ), partnership, an S-corporation, C-corporation, plus how to get a tax ID number and whether it makes sense for you.įor a detailed, but easy-to-understand breakdown of how expenses are categorized and reported on the official tax forms, check out Reporting Self-Employment Business Income and Deductions. If this is your first time filing taxes as an independent contractor or self-employed nurse, we recommend you check out this article: Beginner’s Tax Guide for the Self-Employed. Best Bundle: Quickbooks-Turbotax Bundle.Let a Professional Do My Taxes: H&R Block.
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