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Why Traveling Nurses Need CFO Services — Not Just Tax Prep
- Michelle A Wilson, EA, MSA
- Oct 9
- 3 min read
For many traveling nurses, tax season feels like the finish line — one long appointment, a few signatures, and a sigh of relief. But if you only think about your finances once a year, you’re already losing money.
The truth is, tax prep is reactive. It looks backward at what already happened. CFO services, on the other hand, are proactive. They focus on forecasting, growth, and making sure your money works for you year-round.
Who I Am — and Why I Work with Travel Nurses
I’m Michelle A. Wilson, EA, MSA, an Accountant, Enrolled Agent, and Business Advisor who helps traveling nurses and medical professionals turn financial chaos into financial clarity.
Through my firm, In & Out Accounting and Business Services, LLC, I provide bookkeeping, payroll, CFO-level financial strategy, and personal and business tax preparation for travel nurses who are ready to build stability from their mobile careers.
My clients are often high earners who move fast — across cities, hospitals, and state lines — but need someone they can trust to manage the financial side of that freedom.
The Problem with “Just Doing Taxes”
Most travel nurses only think about finances when April rolls around. By then, it’s too late to:
Fix misclassified stipends or lost deductions
Adjust quarterly estimated tax payments
Correct multi-state tax errors
Plan for LLC or S-Corp savings opportunities
Tax prep can’t recover those missed chances. That’s where a CFO-level service steps in.
What CFO Services Actually Do for Travel Nurses
CFO-level financial management is about more than clean books — it’s about helping you grow your income and protect it at the same time.
Here’s what I help my traveling nurse clients accomplish:
1. Plan Ahead for Multi-State Taxes: Each state has its own rules. I create tax maps that help you forecast where you’ll owe and where you’ll save.
2. Turn Stipends into Strategy: Stipends and per diems can be tax-free — if they’re tracked correctly. We set up systems to prove your “tax home” and keep you compliant.
3. Manage Cash Flow Between Assignments: When contracts end, income stops — but bills don’t. CFO-level planning builds your quarterly and reserve budgets, so your lifestyle doesn’t depend on your next assignment.
4. Position You for Tax Efficiency: Once you start earning six figures as a 1099 nurse, forming an S-Corp can reduce self-employment tax. I help you evaluate when it’s the right move — and manage the bookkeeping and payroll that go with it.
5. Integrate Personal and Business Finances: Many travel nurses blend personal and work spending. I help separate the two, manage your books, and prepare your personal and business taxes so you stay audit-ready.
What You Should Budget
Here’s how to decide which level of support fits your career:
Both services can easily pay for themselves in tax savings, reduced penalties, and better financial control.
Why My Firm Is Different
Most accountants see travel nurses once a year. I stay with you all year.
Through In & Out Accounting and Business Services, I become your financial partner — reviewing your contracts, managing your books, and guiding you through major decisions like:
When to incorporate your business
How to track housing expenses for IRS compliance
How to prepare for gaps between assignments
How to reduce self-employment tax legally and efficiently
It’s not about doing your taxes once. It’s about building a financial system that supports your lifestyle.
Ready to Shift from Surviving to Scaling?
If you’re a traveling nurse who’s tired of financial guesswork, let’s make this simple: stop waiting until tax season to take control of your money.
Work with a professional who understands your contracts, your tax home, and your financial goals.
In & Out Accounting and Business Services, LLCCornerstone Coworking, 279 W. Crogan St., Lawrenceville, GA 30046Serving clients across Georgia, New York, New Jersey, Pennsylvania, Maryland, the Carolinas, Florida, and along the East Coast.
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