In today’s digital age, it’s easy to push the button or tell the cashier that you don’t need a printed receipt. After all, why waste paper when you don’t need it, right?! Well…you might want to rethink that. Travel nurses and freelance or self-employed business owners need to track expenses in order to benefit from potential tax write-offs at the each of each fiscal year. In this post, we’ll list several possible tools to help you track your daily expenses. We’ll also explain how our fully furnished short term rentals can provide an additional cost-savings for your travel needs!
Want to Make a New Year’s Resolution to Help Your Finances? Track Your Spending!
Photo by Recha Oktaviani on Unsplash
Ok, now let’s talk tracking. It may seem super simple, but tracking your expenses can help you:
- Know your top spending categories.
- Record expenses that an accountant can help you determine whether they are deductible or not.
- Increase your self-awareness surrounding money. Do I really need that gourmet coffee?
Think about it like this…saving money is a little like losing weight. Small changes over a long period of time have the potential to make a positive difference!
Tracking Tools
Since you probably already have your phone with you 24/7, a spending app is a great option for tracking. Simply take 30 seconds each time you buy something to record it, and you’re good to go! Some apps include:
- Spending Tracker for iPhone
- You Need a Budget – YNAB App
- Intuit owns both Mint (free app for individuals tracking expenses) and Quickbooks (designed for small business tracking). With Quickbooks, you can even take pictures of your receipts for storing!
Prefer to look through your monthly credit card statement and record expenses that way instead? Microsoft Excel may become your best friend. With Excel, you can sort columns, use formulas to calculate totals and move items into different sheets for separate tracking. Some credit card companies allow customers to export their statements in a CSV or even Quickbooks-compatible file.
If you’re a paper and pencil person, never fear…there are options for you as well! Amazon has lots of cute options for colored binders with tabs, cash envelopes etc.
For more thoughts on taxes for traveling nurses, read our other blog post or check out the “Sources” below for external websites that talk about tax recommendations for travel nurses and medical professionals. Please use these additional resources with your own judgment / the help of an accountant.
Work, then Relax in Our Fully Furnished Short Term Rentals
Our fully furnished short term rentals are designed for the comfort and convenience of our tenants. Rentals feature washer and dryer units, a desk area with HP or Epson printer and an equipped kitchen with stove, full-sized fridge, microwave, pots & pans etc. Our extended stay Shreveport solutions are better than AirBnb, Vrbo or hotels because you deal directly with the owner and not a third-party. We also offer discounts for our travel nurse housing and off-base Barksdale AFB housing rentals.
Ready to ask about current availability or for more information? Simply use our Contact form to reach out or give our owner, Debi, a call at 318-548-6156. We look forward to hearing from you!
Sources: https://www.travelnursing.org/travel-nurse-taxes-comprehensive-guide/, https://www.trustedhealth.com/travel-nursing-guide/travel-nurse-tax-guide, https://nurse1sttravel.com/everything-you-need-to-understand-about-traveling-nursing-taxes/, https://www.freshbooks.com/hub/taxes/tax-deductions-for-travel-nurses
