The General Services Administration (a federal government agency) sets GSA Per Diem Rates. Here’s some further information to help clarify: You must be eligible for the tax free per diems. "dateCreated": "2019-04-03T21:11Z", A FlexCare pay package is completely customizable and could include: Hourly wages; Housing or housing stipend; Meals and incidentals stipend; Rental car; Travel or flight reimbursement; Reimbursements for licenses, certifications, CEUs, etc., if applicable We’re the #1 travel nursing community in the industry, serving thousands As an itinerant worker, you will be required to pay taxes on all income earned including stipends and reimbursements. }. Make sure they have a beginning and ending date on them. If you start traveling in the middle of the year you can look back at your maintenance records for previous odometer readings. Return to your tax home in between assignments if possible or at a minimum of once per year. There is a widespread myth that if you live (tax home) more than 50 miles away from your assignment, you are entitled to, eligible for, or guaranteed the per diems completely free of taxes. However, there are some out of pocket expenses travel nurses have to be aware of that regular staff nurses don’t have to consider; Just like any of other profession, it is important to budget and prepare for the unknown. I was originally drawn to the travel nursing field for the opportunity to travel the country while getting paid at the same time. We’ll continue to explore more benefits, total package value, guaranteed pay, low census protection, and more in our next article. There are some travel contracts offering overtime; for example, some agencies will ask you if you want to work 4 days a week instead of 3 days a week. These are also called stipends, subsidies, allowances or per diems. You will have to write down you odometer reading the beginning of the year on January 1 and again at the end of the year on Dec 31. Discover new jobs, subscribe to customized job alerts and unlock unlimited resources for FREE. Taxable earnings are also where social security contributions originate. What this basically means is that if you are traveling away from your home for work, there are certain expenses that are tax deductible and certain reimbursements that are non-taxable. I am typically not the type of person to do something just for the money. When travel nursing companies advertise pay rates, they will often tell you a blended rate. }, Many of your recruiters don’t take the time to break these topics down for you so it is ultimately your responsibility to seek out the information and educate yourself. This article only offers suggestions and isn’t meant to be tax advice. You must also document your mileage to and from your place of employment. "@type": "Answer", "author": { These are also called stipends, subsidies, allowances or per diems. If this is something you are considering doing than make sure you negotiate a higher taxable rate for lower non-taxable stipends if possible so that you really get more bang for your buck. The most common types of stipends or reimbursements that you will hear about in the travel nursing world are referred to as meals and incidentals (incidentals include taxi/bus fares, parking, and tips), lodging or housing stipends, and travel reimbursements which cover your expenses to and from each assignment; other non-taxable items can include retirement plans, license reimbursements and health insurance. Part 5: Travel Nurse Pay Packages. Factors that affect your travel nurse pay include the bill rate, location, specialty, timing and supply/demand. "name": "How does travel nurse pay work? Working During the Holidays as a Travel Nurse, timing: how quickly you can start the assignment, even some general supply and demand factors, the regular, taxable hourly rate (common range of $18-$24 per hour). Below, we’ve put together the current highest weekly travel nursing pay packages you can expect for each state, based on current StaffDNA job board data (1), and ranked them in order of highest to lowest. Professionals can help you through this experience in combination with educating yourself about nursing pay packages. "upvoteCount": "1337", At face value this is appealing. What goes into a travel nurse pay package and why do they differ between agencies? "url": "https://www.thegypsynurse.com/blog/diagnosing-your-travel-nurse-pay-package-part-1/", (You can unsubscribe anytime). Most banks do not take into consideration stipends and reimbursements when it comes to giving out money, so if you are trying to qualify for a loan, it looks like you only earned $30,000 in one year instead of $60,000. We also have to take into consideration retirement. Just one or two cancelled shifts can really affect your total pay over the course of an assignment! The IRS gives you a set stipend for meals. Those additional benefits and bonuses can result in thousands of realized dollars on each contract. The allure of low taxable income and high non-taxable income sounds appealing, but there are some potential downsides to this scenario. "name": "The Gypsy Nurse" The Most Common Reimbursements a Travel Nurse Receives While some jobs may be different than others, this is a good example of a common pay package that travel nurses receive. With so many variables and agencies making promising claims it’s important to understand what will work best for you and your financial well-being. the nontaxable reimbursements for housing and meals/incidentals. Travel nursing pay packages can provide plenty of confusion but for many, the only thing they want to know is how much money they can make in their state of choice. Overtime by law has to be paid time and a half of your taxable base rate. If you want to tackle this on your own then I recommend getting organized. Very rarely is an agency. "suggestedAnswer": { Know your Taxable equivalent, 2. taxable amounts, 3. tax-free amounts, 4. per-diem pay ", The Bureau of Labor Statistics data lists median hourly rates for RNs at $32.91. Higher non-taxed reimbursements will make your net paycheck increase. Above all, it’s important that you don’t assume you will be paid the exact current GSA table rates. $250 per week for use for meals and incidentals – non-taxable. Many travel agencies have to be careful not to enter the illegal realm of wage re-characterization when dealing with flex pay packages. This proves that you were really working on a temporary basis. ($22+$38= $60). "answerCount": "4", A pay rate of $20 per hour – taxable. The first disadvantage comes into play when you are attempting to get a loan. "@context": "http://schema.org", So, if you make $20 and hour, then your overtime pay will be $30 an hour. As with any tax issues, you should seek advice from a licensed tax professional before filing. Know your Taxable equivalent, 2. taxable amounts, 3. tax-free amounts, 4. per-diem pay ", I knew travel nurses were paid fairly well and had been bombarded with various emails advertising travel nursing pay scales as high as $40 an hour. However, the travel nurse world is a world all its own, and that includes how they earn income. If you do not have a residence that you are planning on maintaining when you are traveling, you will be referred to as an itinerant worker. There is no need to keep track of meal or grocery receipts. "dateCreated": "2019-04-03T22:01Z", Bill rates are what determines what travel pay and per diems will be. We’ll continue to explore more benefits, total package value, guaranteed pay, low census protection, and more in our next article. GSA rates are the maximum amounts that can be reimbursed without the requirement to turn in receipts. There are no duplicate lodging expenses to reimburse. "name": "someuser" Here is an example of a typical pay package: Your blended rate is calculated by breaking down your non-taxable stipends into an hourly rate and adding it to your taxable base rate. Therefore, if a traveler prefers to drive 70 miles each way to work and back each shift, they do not qualify for tax-free lodging allowances. For instance, if you worked 36 hours per week on a 13 week assignment, your hourly rate would look something like this based on the above scenario: Here is a travel log for your trips back home, $20 per hour – taxable base rate that is reported to the IRS, $250 per week for meals and incidentals – non-taxable, $500 for travel reimbursement – non-taxable, Most travel nursing agencies do not offer paid time off. }, If you divide $1368 (stipends) by 36 (the number of hours you are working), the result is $38 per hour worked. A tax home is your place of residence that you maintain and pay for while you are out on your travel assignment. Maintain a PRN or agency job in the same vicinity as your tax home. "@type": "Question", Keep a copy of all of your travel contracts. "@type": "Person", Travel nurses should dig deeper to see what other benefits are provided. "author": { "text": "Travel Nurse pay is divided in taxable and tax-free. This means your TOTAL pay rate is $60 per hour. Unemployment, workers compensation and disability payments are based off of the taxable income. To learn more about wage re-characterization visit traveltax.com. A travel nurse’s pay will generally consist of two main components: the regular, taxable hourly rate (common range of $18-$24 per hour) the nontaxable reimbursements for housing and meals/incidentals.

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