2010 Taxes

[Roger Dat]

Anyone here know the daily rates for 2010 for per diem....

 

[GeekMaster]

http://www.irs.gov/pub/irs-pdf/p1542.pdf

 

[bluefly72]

http://www.irs.gov/pub/irs-pdf/p463.pdf

Page 6 " Special rate for transportation workers". However this 2009 pub and I'm not sure if it has been updated for 2010...maybe pub mentioned above will give you better rates.

 

[Nevets]

GSA.gov

 

[bluefly72]

http://www.irs.gov/publications/p17/ch26.html

More info on "Special rate for transportation workers"...looks like $59/day or $65 for international.

In my case lot of places per GSA rates are $46-51/day

 

[thor2j]

Doesn't really pay with domestic trips for deductions and international is a per destination rate not a flat rate.

 

[regionalcap]

It is worth it to have one of the pilot tax websites figure it out for you. It more than pays the fee.

 

[asayankee]

It is worth it to have one of the pilot tax websites figure it out for you. It more than pays the fee.

www.ezperdiem.com

Check it out...super easy to use. Does the standard vs actual rate for you figuring out whats best. Also has expense organizer and will fill out the forms for you.

 

[thor2j]

It is worth it to have one of the pilot tax websites figure it out for you. It more than pays the fee.

It takes about 25 minutes to do it yourself and again domestic deductions are non existent unless u make $1 /hr per diem.

 

[regionalcap]

It takes about 25 minutes to do it yourself and again domestic deductions are non existent unless u make $1 /hr per diem.

Not true about being non-existent for domestic pilots. I am a domestic pilot with a $2/hr perdiem. I just looked at an example of one from last year and it was a $1200 dollar deduction. I have always gotten a good deduction even with domestic.

 

[Nevets]

http://www.irs.gov/publications/p17/ch26.html

More info on "Special rate for transportation workers"...looks like $59/day or $65 for international.

In my case lot of places per GSA rates are $46-51/day

You should work it out using both the standard and the actual to see which is better for your situation. For me, the standard rates worked out to be a whole $6 more.

Doesn't really pay with domestic trips for deductions and international is a per destination rate not a flat rate.

Domestic has a standard (or flat) rate or a per destination rate.

again domestic deductions are non existent unless u make $1 /hr per diem.

This is not true.

 

[Freebrd]

which better, turbotax (or something similar) or pay out the ass for a cpa?

 

[SizzleChest]

I've used TurboTax for years and it's been good especially with free filing. I like to tinker so writing a spreadsheet and adding up sales tax receipts and crap isn't that bad. Turn on the TV, get a couple boxes to fill with receipts and have at it. you can even drink four loko and snack on rotisserie chix while you do it!! best day ever!

P.S.- Spend the extra $ on getting the audit defense JIC you get a random selection.... it's like buying the AOPA insurance on your ATP. The peace of mind is great.

 

[thor2j]

You should work it out using both the standard and the actual to see which is better for your situation. For me, the standard rates worked out to be a whole $6 more.



Domestic has a standard (or flat) rate or a per destination rate.



This is not true.

Let's say u do a 3 day domestic and the cities has an M&IE rate of $55. You can take 75% first day, 100%, second , and 75% third day. That's about $140 ish write off. Now your 3 day trip probably has about 48 hrs duty time, and u got $2/hr, that's $96 you got paid per diem. 140-96 is 44. Now you can only take 80% of that as a write off, now you are at $33 write off. So for every 3 day trip u will get back about $8 in your pocket. I guess if do enough of them you could get 200-300 extra a year. Then u need to subtract what u paid to have it done.

 

[Nevets]

Let's say u do a 3 day domestic and the cities has an M&IE rate of $55. You can take 75% first day, 100%, second , and 75% third day. That's about $140 ish write off. Now your 3 day trip probably has about 48 hrs duty time, and u got $2/hr, that's $96 you got paid per diem. 140-96 is 44. Now you can only take 80% of that as a write off, now you are at $33 write off. So for every 3 day trip u will get back about $8 in your pocket. I guess if do enough of them you could get 200-300 extra a year. Then u need to subtract what u paid to have it done.

Yup and if you fly 52 four day trips a year and calculate it for $2/hr perdiem you would get about $500 refund minus the $50 for experdiem, that you can deduct for next year's return.

 

[bluefly72]

You should work it out using both the standard and the actual to see which is better for your situation. For me, the standard rates worked out to be a whole $6 more.



Domestic has a standard (or flat) rate or a per destination rate.



This is not true.

Standard works better in my case, since lot of the cities I overnight in are low GSA rate cities and almost no international.
As an example company paid me ~$4600 on per diem last year and standard IRS rate would have paid me ~$8100; difference of $3500, so whatever it equals to in the end I think it was well worth couple of hours of my time.

 

[Roger Dat]

If anyone here was able to find the standard rates in any of these links, please post them....I'm pretty sure from looking at my last years records the rate changes on Oct. 1st.... So from 1/1/10 to 9/30/10 I think its $58 a day. Not sure about the reast of the year....

I've searched the IRS sites and can't find it....

 

[sweptback]

If anyone here was able to find the standard rates in any of these links, please post them....I'm pretty sure from looking at my last years records the rate changes on Oct. 1st.... So from 1/1/10 to 9/30/10 I think its $58 a day. Not sure about the reast of the year....

I've searched the IRS sites and can't find it....

Did you happen to look at post #5 in this thread?

 

[Roger Dat]

Sure did...So is that $59 the new rate effective 10/1/10

 

[Jar Jar]

It is $59 a day domestic for all of 2010. Verified.

Also, read Pub463 carefully. Page 6 states "You can use a special standard meal allowance if you work in the transportation industry" ... "if this applies to you, you can claim a standard meal allowance of [$59] a day"

Pub463 specifically and deliberately sets transportation workers apart from the 'standard meal allowance'.

Only people using the 'standard meal allowance' not the 'special standard meal allowance' have to prorate based on time of departure/arrival.

Direct Quote:
"For both the day you depart for and the date you return from a business trip, you must prorate the standard meal allowance."

There is a clear distinction between the two.