Healthcare Traveler - May 2008 - (Page 55) U UTax Facts I S S U E S A N D A N S W E R S F O R T R AV E L E R S Isn’t it best to receive a large refund? Joseph Smith h, the annual rite of passage where we congregate with fellow healthcare travelers and talk about our big refunds. Each of us acknowledges our good fortune and wonders if others are envious of our ability to pay so little tax. Because surely everyone knows the person with the largest refund is the shrewdest of all. A The real deal Does the above scenario sound ridiculous? It is. Actually, the individual with the smallest refund is the most insightful. Simply put, a large refund equals lousy money management. In the long run, the person with the smallest refund will often be the richest as he or she is able to pay down debt, invest, and contribute to his or her retirement. The traveler who receives a big refund will earn less interest, dividends, and retirement growth, and pay more interest on debt. Circle Career Card No. 608 Less is more How can you ensure you receive a minimal refund? Manage your tax, not your refund. You can take advantage of deductions to reduce your tax, but keep your withholding as low as necessary. A tax refund is simply the difference between what you actually owe—your liability—and what you had withheld, based on the information you provide to your company’s payroll department on Form W-4. A “single and zero” withholding, for instance, is unnecessary for an unmarried traveler, unless he or she works a part-time or casual job on the side. However, claiming “single and one” will help to ensure your hardearned income is ready for your use during the year and not “dead money” in the government’s coffers. HT Any tax advice contained is not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Joseph Smith, RRT, EA, is an enrolled agent and owner of TravelTax LLC (TravelTax.com), based in Norfolk, Nebraska. Circle Career Card No. 605 May 2008 Healthcare Traveler 55 http://www.cirrusmedicalstaffing.com http://www.cirrusmedicalstaffing.com http://www.baycarejobs.com http://www.baycarejobs.com http://www.traveltax.com
Table of Contents Feed for the Digital Edition of Healthcare Traveler - May 2008 Healthcare Traveler - May 2008 Editor's Desk Contents In a Flash Paws for Thought Field Notes Cardiac Care at the Heart of Many Travelers Careers The Current Economy Clinical Tips Drug Update On Assignment Name It When In Advertisers' Index Good for You Tax Facts Big Deals Contest Rules Starter's Kit Going the Distance Tales from the Road Allied Corner Classifieds Healthcare Traveler - May 2008 Healthcare Traveler - May 2008 - Healthcare Traveler - May 2008 (Page Cover1) Healthcare Traveler - May 2008 - Healthcare Traveler - May 2008 (Page Cover2) Healthcare Traveler - May 2008 - Editor's Desk (Page 1) Healthcare Traveler - May 2008 - Contents (Page 2) Healthcare Traveler - May 2008 - Contents (Page 3) Healthcare Traveler - May 2008 - Contents (Page 4) Healthcare Traveler - May 2008 - Contents (Page 5) Healthcare Traveler - May 2008 - In a Flash (Page 6) Healthcare Traveler - May 2008 - In a Flash (Page 7) Healthcare Traveler - May 2008 - Paws for Thought (Page 8) Healthcare Traveler - May 2008 - Paws for Thought (Page 9) Healthcare Traveler - May 2008 - Paws for Thought (Page 10) Healthcare Traveler - May 2008 - Paws for Thought (Page 11) Healthcare Traveler - May 2008 - Field Notes (Page 12) Healthcare Traveler - May 2008 - Field Notes (Page 13) Healthcare Traveler - May 2008 - Field Notes (Page 14) Healthcare Traveler - May 2008 - Field Notes (Page 15) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 16) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 17) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 18) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 19) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 20) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 21) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 22) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 23) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 24) Healthcare Traveler - May 2008 - Cardiac Care at the Heart of Many Travelers Careers (Page 25) Healthcare Traveler - May 2008 - The Current Economy (Page 26) Healthcare Traveler - May 2008 - The Current Economy (Page 27) Healthcare Traveler - May 2008 - The Current Economy (Page 28) Healthcare Traveler - May 2008 - The Current Economy (Page 29) Healthcare Traveler - May 2008 - The Current Economy (Page 30) Healthcare Traveler - May 2008 - The Current Economy (Page 31) Healthcare Traveler - May 2008 - The Current Economy (Page 32) Healthcare Traveler - May 2008 - The Current Economy (Page 33) Healthcare Traveler - May 2008 - The Current Economy (Page 34) Healthcare Traveler - May 2008 - The Current Economy (Page 35) Healthcare Traveler - May 2008 - The Current Economy (Page 36) Healthcare Traveler - May 2008 - The Current Economy (Page 37) Healthcare Traveler - May 2008 - Clinical Tips (Page 38) Healthcare Traveler - May 2008 - Clinical Tips (Page 39) Healthcare Traveler - May 2008 - Drug Update (Page 40) Healthcare Traveler - May 2008 - Drug Update (Page 41) Healthcare Traveler - May 2008 - On Assignment (Page 42) Healthcare Traveler - May 2008 - On Assignment (Page 43) Healthcare Traveler - May 2008 - On Assignment (Page 44) Healthcare Traveler - May 2008 - Name It (Page 45) Healthcare Traveler - May 2008 - When In (Page 46) Healthcare Traveler - May 2008 - When In (Page 47) Healthcare Traveler - May 2008 - When In (Page 48) Healthcare Traveler - May 2008 - Advertisers' Index (Page 49) Healthcare Traveler - May 2008 - Advertisers' Index (Page 50) Healthcare Traveler - May 2008 - Advertisers' Index (Page 51) Healthcare Traveler - May 2008 - Good for You (Page 52) Healthcare Traveler - May 2008 - Good for You (Page 53) Healthcare Traveler - May 2008 - Good for You (Page 54) Healthcare Traveler - May 2008 - Tax Facts (Page 55) Healthcare Traveler - May 2008 - Big Deals (Page 56) Healthcare Traveler - May 2008 - Contest Rules (Page 57) Healthcare Traveler - May 2008 - Starter's Kit (Page 58) Healthcare Traveler - May 2008 - Starter's Kit (Page 59) Healthcare Traveler - May 2008 - Going the Distance (Page 60) Healthcare Traveler - May 2008 - Going the Distance (Page 61) Healthcare Traveler - May 2008 - Allied Corner (Page 62) Healthcare Traveler - May 2008 - Classifieds (Page 63) Healthcare Traveler - May 2008 - Tales from the Road (Page 64) Healthcare Traveler - May 2008 - Tales from the Road (Page Cover3) Healthcare Traveler - May 2008 - Tales from the Road (Page Cover4)
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