crashpad deductions

[OurMoney1]

Must be that time of year again.

For the record it can't be done legally. Sure some guys will try to tell you other wise but talk to a tax expert who is familiar with airline loop holes before you do something stupid.

You wont get caught this time, but eventually, someday, everyone gets nailed. Choose wisely...

 

[MILPILOT17]

Must be that time of year again.

For the record it can't be done legally. Sure some guys will try to tell you other wise but talk to a tax expert who is familiar with airline loop holes before you do something stupid.

You wont get caught this time, but eventually, someday, everyone gets nailed. Choose wisely...

For the record, everyone is in the same tax bracket with the exact same tax situation. Sound right? Talking with a tax expert is the best advice I've seen on FI in a while. Good luck to all with that 1040.

 

[Quiet Flight]

Get your real estate license. In my home state this requires a 63 hr course. 7 days x 9 hrs a day. $449 at one of the more popular schools. Class can also be completed on line. Every 2 years, take "recurrent", 14 hrs and about $200. Then... Each time you drive to work, drive by a property for sale, log it and shazam, your trip is deductible. Do the same thing on the way home. Write off your commuter hotel or crashpad as well. You cannot be penalized for being efficient. i.e. Combining the duties of your primary job and your secondary job in order to save time and money. Well worth the extra 4 minutes of your time to accomplish this and save thousands of $$$.

 

[Ameriagle]

For the record, everyone is in the same tax bracket with the exact same tax situation. Sound right? Talking with a tax expert is the best advice I've seen on FI in a while. Good luck to all with that 1040.

I'm sure most who are commenting have filed taxes using a CPA. Not sure why you are assuming otherwise. In the past I've used pilot-tax.com. They make their living doing pilots taxes so they know a thing or two about it. I assure you they are not deducting crashpad expenses!

 

[MILPILOT17]

I'm sure most who are commenting have filed taxes using a CPA. Not sure why you are assuming otherwise. In the past I've used pilot-tax.com. They make their living doing pilots taxes so they know a thing or two about it. I assure you they are not deducting crashpad expenses!

Again, do you believe everyone that is using pilot-tax.com is in the same tax situation? If you don't understand that basic concept then you (or anyone else) need to see a GOOD CPA! There are no absolutes, especially when it comes to Federal and State taxes.

 

[Secret Squirrel]

Get your real estate license. In my home state this requires a 63 hr course. 7 days x 9 hrs a day. $449 at one of the more popular schools. Class can also be completed on line. Every 2 years, take "recurrent", 14 hrs and about $200. Then... Each time you drive to work, drive by a property for sale, log it and shazam, your trip is deductible. Do the same thing on the way home. Write off your commuter hotel or crashpad as well. You cannot be penalized for being efficient. i.e. Combining the duties of your primary job and your secondary job in order to save time and money. Well worth the extra 4 minutes of your time to accomplish this and save thousands of $$$.

You better make some money at it at some point or they will consider it a hobby and that is not deductible. There is always a catch. If it smells like you are trying to cheat on your taxes you are probably trying to cheat on your taxes and it will only fly until you get audited.

 

[Splert]

I'm sure most who are commenting have filed taxes using a CPA. Not sure why you are assuming otherwise. In the past I've used pilot-tax.com. They make their living doing pilots taxes so they know a thing or two about it. I assure you they are not deducting crashpad expenses!

Crash pad expenses are deductible only for 1 year. After that the IRS expect you to move.

 

[shearedshaft]

Get your real estate license. In my home state this requires a 63 hr course. 7 days x 9 hrs a day. $449 at one of the more popular schools. Class can also be completed on line. Every 2 years, take "recurrent", 14 hrs and about $200. Then... Each time you drive to work, drive by a property for sale, log it and shazam, your trip is deductible. Do the same thing on the way home. Write off your commuter hotel or crashpad as well. You cannot be penalized for being efficient. i.e. Combining the duties of your primary job and your secondary job in order to save time and money. Well worth the extra 4 minutes of your time to accomplish this and save thousands of $$$.

...and then in the audit, they ask to see your completed sales to prove this is a business and not a hobby, and you say what?

The business/hobby test can be hard to pass if they think you're playing them.

 

[shearedshaft]

Here is another what if. What if you have two jobs in two different cities? Many of us live at one job (or guard/reserve) and commute to another. I asked a CPA that questioned and it stumped him. Unfortunately, he never got back to me on that one.

This should be completely deductable as long as you keep good records and don't exceed the DOT per diem standard.

 

[crj567]

Get your real estate license. In my home state this requires a 63 hr course. 7 days x 9 hrs a day. $449 at one of the more popular schools. Class can also be completed on line. Every 2 years, take "recurrent", 14 hrs and about $200. Then... Each time you drive to work, drive by a property for sale, log it and shazam, your trip is deductible. Do the same thing on the way home. Write off your commuter hotel or crashpad as well. You cannot be penalized for being efficient. i.e. Combining the duties of your primary job and your secondary job in order to save time and money. Well worth the extra 4 minutes of your time to accomplish this and save thousands of $$$.

I LOVE all the scams people lile this cook up... I will bet that the IRS will burn you alive if they find out that you never have actually SOLD a freaking house, and never were justified in calling this any type of occupation in the first place.

Best not play games-the IRS goes for some serious deep-dickin' if you get caught!

 

[Scope out RJ's]

I LOVE all the scams people lile this cook up... I will bet that the IRS will burn you alive if they find out that you never have actually SOLD a freaking house, and never were justified in calling this any type of occupation in the first place.

Not to worry troll! They're talking houses, not trailers, yours is safe!

Best not play games-the IRS goes for some serious deep-dickin' if you get caught!

I bet just the thought of that gets you even more excited to go to work and give out more hummers!