claiming meals off your taxes

[av8tor02]

Anyone heard of this? I understand that under publication 463 page 6 on the irs web site it simply states "special rate for transportation workers". We as pilots have the right to claim $40.00 dollars per day that you are away from home? Any suggestions sure would be helpful. Happy flying!

 

[StaySeated]

There are established per diem rates for most cities in the U.S. and abroad. I believe that the national average last year was $42 dollars per overnight. You can only deduct the difference between your actual per diem and the national average, if there is any. For example, lets say you get paid 30 dollars in per diem for an overnight. This is twelve bucks less than the national average. Add up all of your overnights, multiply that number by 12 bucks, and then multiply that number by .6 and you get your deduction. Don't ask my why you only get 60% of the difference, that is just what the tax pub states. Good luck.

 

[wms]

How about claiming a crash pad or hotel in domicile if you are a commuter? Or parking at your home airport?

 

[typhoonpilot]

You can do a lot better than $40.00 per night with the right tax guy. It is a little aggresive but my CPA won an IRS case for a guy that claimed an average of 75.00 per meal without receipts. I don't go that far but I do end up with about $10,000 in deductions for my overnights and I've been doing that since 1996 with no questions asked.

check out www.mkappcpa.com

Typhoonpilot

 

[LawReview]

Uncle Sam

My advice would be as follows: Ask a CPA instead of soliciting advice from an aviation chat board.

There is a lot of bad information floating around out there. Just because Person A was able to Claim B doesn't make it legal. Also an overly aggressive tax accountant on your side doesn't mitigate your culpibility, or lessen your ignorance. (just ask some northwest pilots in MN).

The IRS has taken a tough stand lately on deductions, an people that stretch them too far.

 

[jrcpilot]

Typhoonpilot is correct. If you go to the right tax CPA they can max out your deductions as a pilot. My CPA gave me a sheet with specific deductions I need to track for the year to maximize my return. I pay him about $300 to do my taxes but the guy has gotten me just about all my taxes back at the end of the year. He is worth every penny of it.

Regards

 

[crashpad]

How about claiming a crash pad or hotel in domicile if you are a commuter? Or parking at your home airport?

Did somebody mention my name? Oh, you can claim a crash pad if you lived in it less than 1 year. Definitely hire an aviation tax consultant. Mine charges 80-90 dollars and saves me tons.
PM if you want her #.

 

[wms]

Thanks. I've been trying to figure out what records to keep for tax purposes. I'll use an aviation tax pro, but info from other pilots is useful.