Aviation Tax Deductions

[bobbysamd]

What happens if you lose your pilot job then decide to pursue additional education to get another job? Can those additional education expenses be deducted?

No can do. Any type of education or training that leads to basic credentials for a new vocation is not tax-deductable.

 

[bobbysamd]

how bout this one. My wife was a gate agent and now she is a dispatcher. It was an inter-company transfer and the company does not pay for school or the move. We paid for both and I was planning on deducting both from our taxes. Any thoughts?

You can deduct your moving expenses as long as the meet the IRS distance criteria. I would say she could deduct the school because it was training to further her airline career.

 

[NewBlue]

Do we get any tax break working for non-profit organizations?

 

[cougar6903]

Do we get any tax break working for non-profit organizations?

That sure would help out all thise Delta and AA pilots out there.

 

[qmaster3]

This is the first year I had to Itemize. What should I do? Let the tax company handle it? Report it to the IRS? Wait for an Audit? Call a lawyer? Drink a beer and forget about it?

 

[apdsm]

This is the first year I had to Itemize. What should I do? Let the tax company handle it? Report it to the IRS? Wait for an Audit? Call a lawyer? Drink a beer and forget about it?

Find a good tax person via recommendations from people you know. The more complicated your taxes, the more likely a good tax person will pay for her/himself.

 

[bobbysamd]

Find a good tax person via recommendations from people you know. The more complicated your taxes, the more likely a good tax person will pay for her/himself.

Seconded, absolutely.

 

[rwelch]

Pilot-Tax.com???????

Anyone ever used http://www.pilot-tax.com/ ????

 

[RJET]

pilot tax

I called pilottax.com and they told me they will charge $595 for the standard fee. That is too much money.

 

[Kingairrick]

I put this on the related thread. I use Wolcott & Associates. www.aviation-cpa.com and I think they are great. They charge much less than that. I think I paid around $350 last year...