I Need (Travel) Therapy Ep 30 – Travel Therapy Taxes 101 - Joseph Smith EA, MSTax, RRT
With tax season being on the horizon, we were incredibly excited to welcome a special guest Joseph Smith EA, MSTax, RRT, to fill us in on travel therapy taxes. As the founder of Travel Tax, Joseph was well equipped to share his expert advice for travelers to hear before they file—covering stipends and reimbursements, tax homes vs. permanent homes, tax deductions for travel therapists, and more.
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- An introduction to Joseph and his career background (00:53);
- Classifying a “Tax Traveler” (06:12);
- Stipends and Reimbursements (08:39);
- Tax Home vs. Permanent Home (12:49);
- Multi-State Taxes (30:54);
- Reporting Stipends and Reimbursements (35:20);
- Tax deductions for travel therapists to be aware of (37:26);
- Filing Jointly vs. Separately with a spouse (41:40);
- COVID-19 impact on taxes (44:19);
- Joseph’s company, Travel Tax (48:27);
About Joseph Smith EA, MSTax, RRT
Joseph grew up in Greenville, SC, but after graduating from college and marrying his wife, Daina, he hit the road as a traveling respiratory therapist. Those years were fun, with assignments in MN, OH, LA, CT, PA, and MD, but during that time, he began to gather tax clients, eventually using his accounting degree more than his respiratory therapy degree. It was then that Daina made him hang up the stethoscope because she could see what was coming next.
Joe is driven; his Myers-Briggs personality profile is INTJ, aka “the mastermind,” and it fits him. Knowledge is to be constantly gained, categorized, and utilized. That benefits his clients, in that they know that he constantly has his finger on the pulse of the latest tax issues. He also writes for magazines and blogs, posts on numerous tax forums, and answers dozens of emails every day.
Travel is still a big part of his life, but now it is for seminars and consulting contracts with healthcare staffing firms, reviewing their reimbursement policies, and giving recruiters in-services so they understand the tax issues better. He and Daina have almost completed their goal of visiting all 50 states—they are missing just four!
For more about Joseph and travel taxes, visit his website.