Choosing Credit Cards Which credit card should I get? Does this one have good benefits? Which card has the best reward bonus right now? Will this fee be worth the reward? Does this credit card have an easy redemption process? Help me!? These are just some of the questions that I routinely get asked regarding credit use and rewards hacking. I truly love helping out, but I figured I could possibly help others even more if I laid out a template on how to pick a credit card for yourself. Now, I won’t be picking out many specific credit cards in this article. Rather, I designed the below flow chart…
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How Long Can I Work at One Traveling Assignment?
As mentioned prior, to maximize your income with traveling healthcare, you want to make sure that you qualify for the tax free stipends. You do this by making sure you are following the rules set in place by the IRS on maintaining a tax home. This is laid out in length in the “how to maintain your tax home while traveling” series. However, there is one more often forgot about piece of information that matters to making sure we don’t lose our tax home and that’s the length of time we spend in one location. The IRS Answer The IRS gives us a working definition of how long we are…
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How To Maintain a Tax Home While Traveling: Part 3
Return to Part 2 How to Avoid Abandoning your Tax Home *Disclaimer: I am not a certified tax professional Finally, the last thing we need to be aware of when maintaining our tax homes is making sure we don’t abandon our already established tax home. You have put in the work to establish your tax home as shown in part 1 and part 2, so now, let’s make sure that we don’t abandon this tax home and again miss out on our valuable tax free stipends. As mentioned in part 2, the first step to not abandoning our tax homes is making sure we are using your tax home regularly…
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How to Maintain a Tax Home While Traveling: Part 2
Return to Part 1 How often should I return home to maintain my tax home? *Disclaimer: I am not a tax professional. A general rule of thumb is 30 days. Meaning that for 30 days out of the year you should document yourself being near your tax home. Again, this is not a set number of days by the IRS, but it is a good rule of thumb to make sure you are in the clear in case of an audit. You don’t want to be put in jeopardy of losing out on your tax free stipends by not maintaining your tax home. Why Do I Need to Return Home…
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How to Maintain a Tax Home While Traveling: Part 1
*Disclaimer: I am not a tax professional. I get this question quite frequently so I decided it’s finally time to shed some light onto the sometimes confusing topic of maintaining a tax home with traveling healthcare. This is actually one of the more important things to understand with traveling healthcare, because if you make a mistake and do not have or maintain your tax home the consequences can be financially dire. The Financial Consequences of not Maintaining a Tax Home First off, if you don’t have or you don’t maintain a tax home, you are ineligible for the tax free lodging, travel, and food stipends which is the primary source of…
