Tax Deductions For Nurses

Tax Deductions For Nurses | RN, LPN, NP, MA & More.

Being a nurse can be one of the most rewarding experiences in a career. While the shifts are long and the work can sometimes feel grueling, nurses have one of the most important jobs on Earth – taking care of people when they need it the most!

As a nurse, taxes are the last thing you want to think about. You may be asking questions like “Can I write off my scrubs?” or “What tax deductions can a nurse take?” Taxes can truly be a pain when all you want to do is provide care so we wanted to make an easy-to-read list of tax deductions for nurses and other healthcare professionals so you can go back to what you do best – helping people.

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Tesla Tax Credits

Tax Deductions For Tesla: Incentives, Rebates And Credits

Do you own or are considering purchasing a Tesla? We’re going to cover some of the income tax deductions & other incentives that are available for this model.

Some states (like California) give you a $2,500 tax rebate. Other states, like Hawaii, give you access to the carpool lane and reduced costs on charging.

All of these and more, including tax credits for both Federal & State as well as mileage deduction credits will be outlined below.

Tesla Tax Credit

Tesla’s purchased in or after 2010 may be eligible for a federal income tax credit of up to $7,500. Really, though, it’s any electric vehicle, not just Tesla. If you’d like to look at all of the electric vehicles & plug-in hybrids that qualify for federal tax credits, just use this link. Continue Reading

Bitcoin 101

Bitcoin 101: Everything You Need To Know About Bitcoin

Bitcoin ImageYou can’t go to any major news website today without seeing something about Bitcoin and its meteoric rise from about $1,000 in January of 2017 to over $16,000 in 11 months!

Billions of dollars are being made in this new market and it’s no wonder that interest in Bitcoin and other cryptocurrencies is white hot right now.

What is Bitcoin? How do I buy & sell it? Will I be taxed on my Bitcoin sales?

These are all very important questions, and while we can’t speculate to how long this trend will last or if investing in Bitcoin is right for you, we can help educate you to make a more informed decision.

This Bitcoin article is brought to you by Everlance, the #1 automatic mileage & business expense tracking app on the market.

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2018 standard mileage rate

IRS 2018 Standard Mileage Rate (54.5 cents/mile)

IRS LogoEvery year the IRS updates the Standard Mileage Rate Deduction and no matter what type of driving you do, if you drive for business purposes, moving or charitable causes – the IRS 2018 Standard Mileage Rate is there to help you easily deduct your mileage.

For those of you wondering why you’d use the standard mileage deduction rate instead of itemizing expenses for actual costs, you do have a choice. You can use one or the other, but you can’t use both.

The IRS has attempted to simplify the deduction process for everyone with the standard mileage deduction, however you’re not required to use it – you do have another option.

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Per Diem

Per Diem Rates

What Is A Per Diem?

Per Diem, Latin for “per day” or “for each day” is a common business term for the amount of money that is given to an employee, student or other individual for their daily needs.

You might ask yourself why an employer would opt to hand out a per diem rate instead of requiring an expense report. It seems that the more detailed expense report would cover all of the necessary costs accurately.

There are actually 2 good reasons.

  1. Cost savings
  2. Less work (for both sides)

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