It's Tax time, here is the requisite thread

[John Pennekamp]

If you work for ASA, pay the $50 for the FLiCA expense report. It increased my and my wife's refund by about $1100 last year between the two of us just by itemizing perdiem and adding in the CONUS.

 

[thesource]

Tell me again about the shoes and socks. A new pair of black shoes every couple of years and 3 or 4 pairs of black socks each year are not something I would buy but for this job. Are you sure I can't deduct it. And as a side note, I use a guy that was in the Avit. tax business and he has not had a problem with these over the years and I have asked more than once. Also, years ago I bought a Breitling and we deducted 25%. He said I could do more but I thought 25% was fair. Anyone Know any different?

 

[DoinTime]

Tell me again about the shoes and socks. A new pair of black shoes every couple of years and 3 or 4 pairs of black socks each year are not something I would buy but for this job. Are you sure I can't deduct it.

Like I said, you can deduct anything you want. When it comes to shoes and socks (slacks and overcoats too) you're going to have to justify why you can't wear these items in public. Tax professionals make a living off of getting you a bigger return. If you are audited and found to be wrong you still have to pay the IRS, not your tax preparer. Considering that the annual cost of keeping up the condition of your socks and shoes is about $50-$60 (or $5-$10 in your pocket after return) its not worth the risk, IMO.

Here is what the IRS says about uniform deductions.

Work Clothes and Uniforms:
You can deduct the cost and upkeep of work clothes if the following two requirements are met.

1. You must wear them as a condition of your employment.

2. The clothes are not suitable for everyday wear.

It is not enough that you wear distinctive clothing. The clothing must be specifically required by your employer. Nor is it enough that you do not, in fact,
wear your work clothes away from work. The clothing must not be suitable for taking the place of your regular clothing. Examples of workers who may be able to deduct the cost and upkeep of work clothes are: delivery workers, firefighters, health care workers, law enforcement officers, letter
carriers, professional athletes, and transportation workers (air, rail, bus, etc.).

 

[trainer8]

It's getting to be tax season. I'm starting to get together my LEGALLY deductible job-related expenses to do my taxes.

Obviously any non reimbursed job expenses (uniform, parking, job search, van tips etc) are typical.

My question is.....

Any great LEGAL deductions I am missing?

Do any of you deduct your cell phone? 50% 100%?

Obviously the $13,000 TAG with the ELT built in might raise a red flag, but how about.

• Cell phone
• Health club membership (gotta keep that medical you know)
• Per Diem minus Co. reimbursement
• headsets (since co. also provides them)

For some regional pilots

• Jet Polish
• Oakleys w/hair gel resistant lenses
• Backpack
• Ipod Com-panel adapter
• porn
• hair gel

Anything unusual you have deducted?

There are plenty of pilot tax gurus on this board; they'll hit this thread soon.

If your new to airline flying, if you don't itemize your taxes or don't have enough deductions to itemize, the personal standard deduction is all you have for yourself/family.

If you itemize, the IRS allows you to deduct CONUS and OCONUS Meals and Incedental Expenses, or M&IEs. They give you a Transportation Worker standard which, I believe for 2007, is $52 per day. Or, you can itemize each RON city. If you are in a high rate city like a LGA RON, the specific city rate is typically much higher than the standard rate. If you RON in ELM, it will be much less. If your company pays you a per diem rate, you can take the difference between the per diem and the IRS city/standard rate. If the per diem is greater than the IRS rate, you will have to pay tax on the excess.

The pubs and forms are on the IRS web site. It's worth the time/work/research if you are traveling alot, especially OCONUS. Last year my deduction was $800 just for M&IEs.

ANYTHING work related item you use/buy soley for your flying job is deductable. Headset, shoes, clothing (uniform), digital logbook/PDA. BUT, transportation to work is not. Crashpad is not.

If YOU pay for parking and are not reimbursed, you may deduct the parking fees.

Cell phone--if you are required by you company to be contactable and they don't compensate you for your cell phone usage, you must pro-rate the amount of cell phone usage you use personally and what is used for the company.

Same goes for your computer and ISP. The percentage must be "reasonable" to the IRS. So if you claim it all, it's gotta be a computer soley for company use.

That should get you started. Watch this site for more tax guys to post. It'll be here.

T8

 

[atpcliff]

Hi!

I believe the watch is in the FARs. At USA Jet, or Ops Specs also requires it, so you can deduct 100%. I think it's pretty standard to deduct 100% of your watch.

Interesting note:
Trans States required a Black, "Conservative" watch.
Emirates requires a Silver watch with a Silver metal band.

cliff
YIP

 

[Big Foot]

Has anybody used EZPERDIEM.com to figure the CONUS for taxes. If so was it worth it??

 

[DoinTime]

Hi!I believe the watch is in the FARs. At USA Jet, or Ops Specs also requires it, so you can deduct 100%. I think it's pretty standard to deduct 100% of your watch.

A watch is a professional requirement regardless if it is a requirement for the company. Reasonable deductions are legit but if you get much north of $200 you're asking for trouble. The $13,000 TAG watch deduction will get you some pretty heavy fines from the IRS.

 

[ToiletDuck]

Uniforms and haircuts since those are required by the job.

 

[Wiggums]

If YOU pay for parking and are not reimbursed, you may deduct the parking fees.

Vehicle expenses related to commuting to work such as tolls, parking, and fuel and not deductible. You are only to permitted to deduct the above expenses if you use your car for a business purposes. I know that many people here a deducting parking but in an audit you will probably pay it.

 

[prtyprtyprncss]

Well uniform items are definitely deductible, and you certainly could use a little something to cover your head. In your case, that protuberance between your shoulders would certainly be a most appropriate location for a ribbed version.

-You a truly an idiot, Instructorfool!

-BTW-what are you doing on this board again, since you claim you never come here, tooldrawer?

Anyway, $3.98 isn't worth the risk of getting audited!