‘Nursing’ your deductions for a healthy income!

Tax deductions are lucrative things but they differ for every profession.  For nurses, there are many such specific tax deductions.  Do take their benefit on your tax return to make your income healthier.

If you are a nurse, do not forget to claim the following deductions –

1. Uniforms – The cost of acquiring uniforms and the cost of their cleaning and maintenance is an important expense for a nurse.  As they are directly related to job, you can claim such cost as deduction on your tax return.

2. Specialized equipment – If you are required to buy some specific shoes or if equipment like stethoscopes or clamps, you can claim that cost as your deduction.  If you are required to buy a PDA for coping up with the job, its cost can also be taken as legitimate deduction.

3. Fees for license and training – The fees which you pay for renewal of your license are deductible.  If you buy any books or medical journals for keeping tract with the latest in your field, their costs will be deductible.

4.Expenses on travel – If you travel overseas and visit any clinics or hospitals there for keeping your knowledge up to date, you can claim your expenses on foreign travel as a legitimate deduction from your income.  However this is a tricky deduction and you should approach your tax advisor for taking appropriate guidance.  The expenses for hiring a tax adviser are also deductible from your income!

5. Expenses on moving – If your spouse is moving to another state and you are required to move along, you may be required to take a new license for doing job in that state.  Such expense is deductible from your income.

6. Traveling expenses - If your job requires frequent traveling, you can claim expenses on travelling on your tax return.  For making such are claim, you have to have a tax home.  When you are not on duty, you are supposed to stay at this place.  This you should be your mailing address.  Your traveling expenses should originate from this place. Remember, your assignments while on travel must be temporary. You cannot work for one full year on one job site and claim expenses as travelling nurse.

Your travelling expenses include lodging, meals, use of cell phone and transportation expenses. You need to keep receipts and invoices of all such expenditure for any enquiry from IRS.

There may be some significant changes in your life in the last tax year - you might have got married or you may be having a baby or you might have bought your new house.  All these changes will affect your tax at the end of the year.  Remember, whatever you do during the year will determine your tax at the end!