Being a self-employed nurse means juggling care, emergencies, journeys, shifts… and all the management of your business. In this daily rush, bookkeeping often takes a back seat, until a costly error adds to the bill.
Lack of time, lack of support, unclear tax rules: some mistakes are common… but avoidable.
Here are the 5 most common accounting errors made by self-employed nurses and, above all, our advice on how to avoid them to protect your business and your peace of mind.
Forgetting to declare certain income or bonuses
Many nurses fail (often through ignorance) to declare certain allowances, expenses or bonuses. However, failure to declare such income can result in hefty fines and painful tax adjustments.
How can you avoid making this mistake?
- Keep accurate records of all your income, including that received in cash or in the form of allowances.
- Seek the support of an accountant specialising in the medical sector, who is familiar with the obligations specific to the care professions.
Throw away (or lose) expense receipts
Yes, every receipt counts! A purchase without justification, even a professional one, cannot be deducted. The result: expenses that are not recognised for tax purposes and an unnecessary increase in your tax base.
Our advice:
- Systematically centralise your tickets and invoices in a file (physical or digital)
- Use scanning tools or management applications adapted to your profession to save everything as you go along.
Confusing personal and business expenses
A common mistake: mixing your personal and business expenses. However, not all your expenses are deductible, even if they appear to be linked to your business.
A common example is buying a car or a computer and wanting to deduct them in full without complying with the specific tax rules.
Best practice :
- Separate your bank accounts: a business account for your business and a personal account.
- Have your accountant validate your expenses before considering them as professional.
Neglecting advance payments and tax provisions
Forgetting or miscalculating your tax instalments can come as a shock when you receive your annual tax statement. Paying ‘too late’ or ‘too little’ directly incurs penalties.
The solution:
- Set aside a specific amount each month for tax.
- Have a quarterly review with a professional to adjust your provisions in line with your actual turnover.
Trying to manage everything on your own (to the detriment of your mental health)
Between your benefits, the paperwork and your private life, it’s tempting to control everything on your own. The result: mistakes, oversights, stress and sometimes even tax reassessments.
The alternative?
- Delegate your accounting to a fiduciary specialising in your sector.
- You’ll save precious time, reduce your mental workload and secure your business.
As a self-employed nurse, don’t let your accounts become a burden.
At My Nurse Expert, we understand your day-to-day challenges.
Our trustee service is 100% dedicated to independent nurses, with a single objective: to free you from accounting management so that you can concentrate on what’s most important: your patients.
Take back control of your business and preserve your peace of mind:
Entrust your accounting to My Nurse Expert today! Contact us now for a no-obligation initial discussion.