WestcoastRN
Dryer sheet aficionado
Sorry if this has been addressed before; I did a search though old threads but could't find my exact situation. I retired December 2014 and have truly enjoyed my first year of retirement (well, except for watching my portfolio struggle). About 2 weeks ago an opportunity presented itself through a former work colleague. The job is only 3 24-hour shifts a month, working as a forensic nurse examiner. The pay is a flat rate and only paid if a case comes in, otherwise it's $1.00 an hour to wait for a call. The pay is for the forensic exam, whether the exam takes an hour or 5 hours, with the pay coming from the state victims fund. All the nurses who work for this non-profit organization are IC's, and required to maintain licenses, certifications, and professional affiliations. The offer states the non-profit will pay the first year of malpractice insurance and certification.
I have always been a W2 employee and have zero knowledge about working as an IC, though I've read several threads on this forum that have been extremely helpful. I am aware there are several work related deductions allowed (car or mileage, scrubs, cell phone, conferences), but was unsure of healthcare premiums. DH and I have ACA insurance with a very small subsidy. Because we receive a subsidy, does that negate qualifying for healthcare tax deductions allowed for an IC? Honestly, I've spent hours trying to find some information, but have come up empty handed.
I don't expect to make a whole lot of money only working 3 days a month, though realize even a small amount of income could jeopardize our small subsidy.
Any advice would be appreciated - thanks!!
I have always been a W2 employee and have zero knowledge about working as an IC, though I've read several threads on this forum that have been extremely helpful. I am aware there are several work related deductions allowed (car or mileage, scrubs, cell phone, conferences), but was unsure of healthcare premiums. DH and I have ACA insurance with a very small subsidy. Because we receive a subsidy, does that negate qualifying for healthcare tax deductions allowed for an IC? Honestly, I've spent hours trying to find some information, but have come up empty handed.
I don't expect to make a whole lot of money only working 3 days a month, though realize even a small amount of income could jeopardize our small subsidy.
Any advice would be appreciated - thanks!!