7 Things to Know about Travel Nursing Pay & Wage Recharacterization
Travel nursing pay packages are quite complex compared to permanent-job pay packages. This is due to the fact that travel nursing pay is commonly split between a taxable base rate and various tax-free reimbursements.
Moreover, different agencies have different ways of splitting the pay among the various pay package components. Some agencies will pay travel nurses more tax-free money and less taxable money, and vice-versa.
However, there are rules that agencies must follow. One set of rules that agencies should adhere to pertain to what is commonly called “wage recharacterization.” Understanding this issue will provide travel nurses with a better understanding of travel nursing pay.