Q&A: Why Do Travel Nurses Make Such Great Money? 💵
In our industry (Hello travel nurses!) we get paid different than our permeant peers.
As always, the word "travel nurse" is all inclusive. I am also talking to travel therapists and techs. It's just hard to write them all out and google likes me to say nurse over "healthcare worker". I love you all the same!
We live different. (Hello to no one telling me when I can and can't travel to Bali!) #liveonmyterms
We are different. We embrace the unknown. The live a lifestyle others are either afraid of or dream of. We take the leap into a unique way of doing life! (And I for one love it)
There are lots of reasons we make such good money as travel Nurses.
1. We are traveling away from the comfort of our homes to help a facility that needs us.
2. We don't get paid time off or sick days- we only get paid for hours we work.
3. We have less stability. Contracts get canceled and we sometimes have stressful job searching weeks. (again with no pay)
4. We are expected to "hit the ground running" and be clinically competent right away.
5. Also because of tax-free reimbursements.
Travel Nurses, Therapists and Techs + Tax Free Money
This is the point I'm going to talk about in this post!
Let's learn some important travel nurse words.
As you get started you will hear words like: Reimbursements, per diems, tax free money, stipends.
Here is the thing to know: They all essentially mean the same thing.
When I was first starting out as a traveler I would get really confused by these terms. Recruiters would use them interchangeably but I thought they were totally different things.
But they are not... They are all just words for reimbursements.
Tax-free reimbursements to be exact.
As travelers, when you first hear about this concept of tax free money, it's really amazing.
I was like "What!?" "A lot of the money we receive each week is tax free?" "I'm going to make how much more than I would as a staff employee!!!"
But there are rules to getting this money. Rules that (dare I say) 90% of our recruiters do not know OR are taught incorrectly. So, that leaves us (#empoweredtravelers) to learn these rules ourselves and stay safe as we travel and get paid tax-free reimbursements.
Unfortunately, tax-free money not just handed to us just because we are travelers who work in healthcare.
There is this thing called a tax home.
When you have a tax home and you follow the important rules of having a tax home... that is when you're able to get per diems, tax free money, reimbursements. Thn you can utilize the benefits of being a travel nurse or a travel physical therapist or travel ultra sound tech (etc, etc... I love all the types of travelers).
So, let's learn on...
1. Learn what a tax home is so you can decide if doing all those steps is the right move for your journey.
2. And let it be know you CAN travel as a healthcare worker without a tax home! You might be someone who wants the freedom of travel without the ties to a tax home.
3. Know what happens if you do not have a tax home yet still agreed to get reimbursements.
Live your dream,
Laura and the Nomadicare Team (We are here for YOU!)
PS: The full tax-home and tax-free money video with Jospeh Smith is here:
(What we talked about in this post is from 8:09 to 10:21 in the video)
Travel Tax and Nomadicare Unite! Enjoy!
As always: www.Nomadicare.com is the only place in the industry to get a vetted recruiter match where the recruiters are held accountable to treating us (and paying us) kind and fair. ❤️
If you don't find a recruiter you love through Nomadicare- we will give you $100.
Let's raise the integrity of our wonderful industry up together by working with honest recruiters that have passion and hustle! #empoweredtravelers #dreammatches #Nomadicare
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