getting a 604 or Global type myself

[HawkerF/O]

That contract pilot.

I have no idea. I know a lot of guys new to the contract world use Simuflite because it is much cheaper. FSI is nice if you fly 2 aircraft, cause they will let you train on both for the price of 1, the more expensive one if you get a full service contract.

 

[psysicx]

Gotcha isn't there a way to incorporate yourself w/o getting taxed 20%?

 

[HawkerF/O]

Gotcha isn't there a way to incorporate yourself w/o getting taxed 20%?

From what I understand, the way to do that is to start an S-Corp or maybe it is called an C-Corp.. Who knows? I know very little about it, but I think the idea is that you start the C or S Corp then become the only employee of that Corp. Have the company you fly for, we'll call them The ABC Widgets Corp, pay the Corp you set up directly. Then, pay yourself from the Corp. you set up. In the mean time, have your C/S Corp pay for your training, your car lease* (See Below), fuel for your car, your hotels bills during training, maybe your utility bill, the AMEX you give your mistress (did I say that out loud?), etc. You get the idea.

ABC WIDGETS pays YOUR CORP which pays YOU/YOUR BILLS.

That might al be wrong, but that is how it has been explained to me. Good Luck.

As for the car lease, you can have your Corp lease your car, then deduct the cost of the lease from the Corporation's taxes. It used to be, and still might be, that if you bought/leased a large SUV (Surburban, Hummer, ETC) you got a HUGE tax deduction. The deduction is/was triggered by the weight of the SUV (cuts the Japaneese/Korean/ETC automakers out of benefits so you had to buy American), so ask a dealer if you go that route. A nice loophole would be the new Range Rovers. Those are bad dudes, and the lady folk lovvvvvvvve 'em.

 

[Spooky 1]

Okay.....I don't think it would be appropriate to identify these guys other than one of them was a retired USAir guy with a lot of "credentials" before he typed in the GV. One of the others was a 9/11 furloughed CAL guy who actually had the state of NJ pay for his rating under a program for those who lost their jobs via the 9/11 event, so he actually did not write the check himself but the circumstances were effectively the same.

I know a VP Fight Ops for a large management company who would embrace this concept for guys that are coming out of the airlines with significant international experience. This is obviously not for everyone.

Again, no risk, no rewards. This might may or may not be the best road traveled for a pilot who has has spent a significant amount of time in the regional business, but all it takes is one good break to make the difference in a lifetime career.

I don't embrace PFT, but I am not sure why this is different from getting an advanced degree in some particular field. If you think it will enhance your chances, so be it.

 

[mobie]

Buy a Type?

I know one former USAir that bought a GV type and is doing well in SoCal. He did have a lot of contacts, also was a two star in the Navy and that did not hurt Viper either.

It would be a big crap shoot for most.

 

[Spooky 1]

I know one former USAir that bought a GV type and is doing well in SoCal. He did have a lot of contacts, also was a two star in the Navy and that did not hurt Viper either.

It would be a big crap shoot for most.

You obviously know the same guy as I do. He was pretty idle for the fisrt year or so, but then things clicked and from that point on he was pretty sucessful. BTW, this guy is in his sixties today.

 

[Gulfstream 200]

OK, those these guys are obviously worlds apart from the original poster.

 

[Spooky 1]

Probably true, and the lack of international experience for a GEX pilot would be a potential problem for many. On the other hand the Challenger option might not be as significant.

 

[sleepy]

Probably true, and the lack of international experience for a GEX pilot would be a potential problem for many. On the other hand the Challenger option might not be as significant.

I guess he could also take the FSI or Simuflight International Procedures Course, RVSM, AIRINC 424, etc....... Since he would be the FO on the trip it might not matter if he had any actual experience, so long as he could show that he understood what to do.

Don't forget the home office deduction, that is a nice one along with writing-off your new Hummer.

I would not recommend investing this kind of money in this unless you already have contacts in the industry that will assure you that they will use you frequently. Even then it is a big gamble. If you live in Atlanta just forget this plan. There are some Challengers in Atlanta, but I am not aware of any Globals here. There is a guy up in GQO that recently bought a Global. They also have a Lear. They were looking for a pilot last month. The owner owns a bunch of those payday loan / check cashing places.

You will be hard pressed to find any Global or Challenger work in Atlanta. I would suggest a LearJet or Citation type, or Gulfstream if you like the bigger stuff for Atlanta.

 

[intooclose]

Thanks for all the info guys. I worked line service in ATL years ago and the corporate world is what first got me interested in aviation. I am looking to get back. I am not in danger of losing my job. I have about 5000 TT and 1200 jet PIC with little international experience(Canada and Mexico), and BBA in marketing. I think I will just get some face time with what I think are good operations and go from there. I made $74000 last year and would like to stay around that figure, it may be tough in ATL though maybe.

Thanks for any advice
Captain Never Home

 

[Ty Webb]

Simply put, there is much smarter ways to get the airline stink off of yourself.

I have to laugh . . . . I had the opposite problem- trying to get the "corporate stink" off of myself to get my airline job.

G200, you really come off as a condescending pr!ck. I would take an airline schedule, pay and benefits over 98% of the corporate jobs out there, and if the other 2% involved flying with you, well, then I guess I would have to pass on them all.

 

[HawkerF/O]

I have to laugh . . . . I had the opposite problem- trying to get the "corporate stink" off of myself to get my airline job.

G200, you really come off as a condescending pr!ck. I would take an airline schedule, pay and benefits over 98% of the corporate jobs out there, and if the other 2% involved flying with you, well, then I guess I would have to pass on them all.

Ty, you should have PM'd G200 with that comment. G200 was out of line with his comment and he knows that and by you validating it with a reply, you are playing right into his hand. Believe me, I have been there myself, and I am learning that there are just some people who have no class. Typically, they are not respected at work and have no control over other aspects of thier lives, so they get on here and show their AS$. No matter what you do, you're simply wasting your time. I'd $uck it up and move on.

 

[Ty Webb]

Typically, they get on here and show their AS$. . . . .No matter what you do, you're simply wasting your time. I'd $uck it up and move on.

Oh, once in a while, it's fun to dish out a well-deserved comeuppance.

 

[HawkerF/O]

Oh, once in a while, it's fun to dish out a well-deserved comeuppance.

If there is anyone that can appreciate that, it's me. My favorite movie is The Count of Monte Christo. Why, you ask? Cause if you shafted this guy he didn't forget, and if you had it coming, he made sure you got your up and commings, and I like that. It wasn't about revenge or even principle, it was about the reckoning of the whole situation. Good stuff, but still, I'd $uck it up and move on.

 

[Ty Webb]

If there is anyone that can appreciate that, it's me. My favorite movie is The Count of Monte Christo.

Given his choice of avatars, I think G200 would likely appreciate any movie that involved false imprisonment. Maybe he's getting tired of spending his overnights in Teterboro and would rather stay in the Honeymoon Suite on Riker's.