#ServingBeyond: Tracie Jackson, The Tax Savvy Nurse, Serving Medical Professionals

Columbia, MD – Tracie Jackson, a passionate nurse of 13 years serves beyond the traditional nursing role as a tax professional, entrepreneur, foreign currency trader, and business coach. She is known for selflessly helping transform others’ lives both physically and financially. Whether leading financial wellness events, aiding others in launching a new business, or teaching how to trade, she has a way of challenging those she connects with to think bigger.

Tracie’s desire to help people was instilled at a young age by her parents, who were both well established in the financial and business industry. They constantly demonstrated what it meant to be a hard-working servant leader. These early core-values motivated Tracie to become an entrepreneur at the age of 21. As she continued to grow her skill sets, she learned the power of having options. She understood that options will allow her to create her own economy, which in turn could help prevent nursing burnout. Tracie is a veteran in the healthcare and financial industries and has mentored dozens, influencing their ability to take control of their lives financially.

During Tracie’s time learning a new skill in the world of Forex trading in 2014, and as she began to teach Forex and mentor others in enhancing their trading skills, Tracie learned how great of a knowledge deficit so many people have about other financial subjects such as taxes, finances, credit and investing. This led Tracie to launch her businesses, Jewel Financial Solutions LLC and Tax Savvy Nurse, in 2018 as a way to educate on financial literacy were nurses, health professionals, and small businesses quickly became her biggest clientele. Tracie’s greatest aspiration is to continue to build financially healthy communities and empower them to live on their own terms. She is motivated daily by her passion to see others thrive and simply win in all aspects of life. Her philosophy in life is, “The more you give back to the universe, the more peace and abundance is returned to you.”

I had the pleasure of connecting with Tracie via social media in the Black Nurse Entrepreneurs group on Facebook, and then the opportunity to meet with her in person at the inaugural Nurse Boss Summit held at the Raleigh Convention Center. Tracie’s passion for healthcare professionals, particularly nurses, to obtain as much knowledge as possible in the financial arena is extremely evident. Tracie welcomed the opportunity to share more about her desires as a nurse serving beyond the traditional clinical setting:

Santisha Walker, RN (SW): Tell us a little about yourself.

Tracie  Jackson: I am a 35-year-old mother of one 13-year-old son. I enjoy exercising outdoors and traveling. I have been a registered nurse since age 22 in mostly community-based settings, while also working a home-based business for additional income. I love coaching and educating people to live a healthy life physically and financially. I hold various certifications and skillsets, including Holistic Health and Nutrition Coaching, Credit Repair Specialist, Tax Preparation, Life Insurance License, and Forex/Currency Trading.  Right now, I am working to finish my requirements to become an Enrolled Agent where I can represent my tax clients in front of the IRS. Then I plan to obtain an MBA. 

SW: What attracted you to the healthcare profession, particularly nursing?

Tracie  Jackson: It was kind of an accident for me to find nursing. I was initially supposed to go to art school right out of high school; however, the school I wanted to attend was too expensive. After trying to figure out what to do next my mother saw on the news that there was a shortage of nurses and suggested I consider the nursing profession because as a child I was always concerned about helping and caring for people, and I loved watching medical shows. Once I explored more of what the profession of nursing entailed, I quickly knew it was for me! 

SW: Do you feel you are making the impact you desire with patients in your daytime / “9-5” RN position?

Tracie  Jackson: Somewhat, yes. I am blessed to work in a low stress, fun working environment as a Cardiology stress nurse. I have always loved outpatient settings because I feel I have more time to connect with the patient and make more of a long-lasting impact. I get a chance to educate and provide resources to help my patients reach their health goals and manage their chronic conditions. With that being said, my mission is bigger than just serving as a clinical nurse. Outside of my 9-5, I feel that I can make a bigger impact by helping people relieve financial stress by understanding how to pay fewer taxes, increase profits within their business, invest to leverage cash flow, and improve their credit.

SW: What, or who has served as your inspiration as a nurse?

Tracie  Jackson: I come from a family of nurses. I grew up watching my grandmother take care of the elderly in her home. I have a natural love for human science and nutrition, so this is the perfect career to allow me to guide people toward healthy change. 

SW: Where do you see yourself in the next 5 years as an RN?

Tracie  Jackson: In the next 5 years, I plan to have transitioned from full-time nursing to part-time / PRN nursing, (which is as needed in the healthcare world). I plan to switch my focus to building and operating my Tax and Financial Services business on a full-time basis.

SW: Let’s talk about your role as The Tax Savvy Nurse. How did this concept come about? Why do you feel it’s important to operate as a nurse in this capacity?

Tracie  Jackson: I wanted to help more nurses learn to keep more of their hard-earned money. I also enjoy helping nurses and small business owners start profitable businesses and learn how to manage the cash flow that comes through their businesses. While learning to trade through Forex, I realized I love the concept of currency exchange, numbers, and all things money. I recognized that there was a huge knowledge deficit about how money actually works, even among people who made a decent income. Their lack of understanding about how taxes operate, why credit is important, how to budget, and other simple concepts related to money, fueled my determination to provide financial literacy in these areas. It’s all about strategy and knowing the “rules of the money game”. We are not taught these basic concepts in school. As the Tax savvy Nurse, I am focused on helping health professionals and business owners become savvy and more knowledgeable about taxes and money in general. 

SW: When did you know it was time to serve beyond nursing in the traditional healthcare setting and become an entrepreneur as a nurse (or nursepreneur)?

Tracie  Jackson: Tax Savvy Nurse came about for two reasons:

1. I decided to start a tax business because I love the power of helping others understand how to minimize tax liability as much as possible. This is our greatest bill that most people do not pay attention to, as well as one of the most misunderstood topics by the general population.
2. I also noticed how having a business while working as a nurse impacted my taxes in a positive way. As the Tax Savvy Nurse, I chose nurses as my target population because over the years I have heard the struggles of nurses and concerns with paying a lot in taxes. I wanted to educate them on how to keep more of the money they earn.  

SW: What tips do you have for RNs or others in the healthcare field who desire to branch out into another aspect of serving as a healthcare professional, whether in the community or through business ownership?

Tracie  Jackson: I would give the following tips:

1. Start by sitting down and writing out why you desire to branch out in the first place. It’s that very reason that will keep you pushing through to overcome hurdles and challenges you will face.
2. Write out what problem(s) you want to solve for your community and what skillsets & resources you possess that can solve that problem.
3. Hire people to do what you are not an expert in. For example, a Business Coach and Tax Professional are necessary because we see so many times how businesses try to cut costs by doing everything else that they are not an expert in. Hiring experts can save time and money in the long-term.

SW: What tax-related tips would you give to nurses during this COVID-19 healthcare crisis if they choose to accept a travel assignment?

Tracie  Jackson: To nurses choosing to accept a travel assignment, I recommend that they:

1. Please DO NOT go exempt on these COVID assignments, unless you have a clear reason why. If you choose to go exempt, you could end up having a huge tax bill in 2020. Part of your money is most likely taxable, and you will want to have that taken out. If you have already selected exempt, then I would be sure to consult with your tax professional to see how much you should set aside and send payment to the IRS.
2. Remember, you will be taxed by the state you worked in as well.
3. Keep in mind that some of you are making a significant amount of additional income than you were last year, maybe 20K-50K more, so this can put you in a higher tax bracket; therefore, you may want to account for that increase by adjusting your W4 at your 9-5 position or another W2 job (s) you may work to take into account that increase.
4. Lastly, having a business could help you greatly pay less taxes on your W2 income. If you can, try to get paid via 1099 (contract) from your agency. This can be very beneficial in allowing you more tax deductions. You will want a professional to assist you in determining the best route for you to take.

SW: How can our readers connect with you?

Tracie  Jackson: If you need a tax professional, feel free to contact my office directly at 770-282-5113.

You can connect with me via my website at www.taxsavvynurse.com

Email: info@taxsavvynurse.com

YouTube: Tax Savvy Nurse

Facebook – Tax Savvy Nurse – Tax Solutions for Health Professionals 

Instagram: taxsavvynurse

LinkedIn: Tracie Jackson