It's Tax time, here is the requisite thread

[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!

 

[Thedude]

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

If you do a lot of Intl flying it is worth it. If all you do is domestic probably not.
I had a $9000 difference between what I was paid and what the gov says the per diem should be.

 

[trainer8]

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.

See, I told you the tax gurus would show up!

Thanks for the correction.

T8

 

[Rez O. Lewshun]

I deduct anything that I spend money on to help me make money that requires me to pay taxes...

How 'bout them apples?

 

[trainer8]

I deduct anything that I spend money on to help me make money that requires me to pay taxes...

How 'bout them apples?

If they ain't rotten to the IRS, them thar is good apples.

T8

 

[LearLove]

FWIW,

Over the past 8 years I've (my tax guy says so) deducted the GA flying I've done. My tax guy says as long as i have a SEl/Comm and or CFI (current) then it is OK.

It is usually on the neighborhood of $1500-1800 per year that i spend putzing around in either a c150 or other club aircraft.

being single with no house or kids I really don't have anything else to write off other than the standard airline stuff. I just do what my retired airline/tax guy tells me. i used the same guy ever sice starting 121 8 years ago.


off the top of my head my stuff this year will be;

GA flying - 1800
uniform - 350
glasses - 350
watch - 250
cell(on reserve) 39(basic) times 12=468
internet 29 (basic) times 12= 348
cable 42 (basic) times 12 = 504
aopa = 39
flying manuals/periodicals =200
teamster dues = 950
cloths donation 600/3=200
2006 tax prep = 195

thats about it

total = 5654.

every year for the past 8 years it always come out about the same as above plus or minus a few 100.

My guy will get me about 1500 back (state/fed) and I'll pay him about 200 and owe the county here in PA around 300. 1500 - 200 - 300 = 1000 to me. Wahoo strip bar on my next overnight here i come.

 

[trainer8]

Hey, LearLove, you on reserve today...or on a trip

 

[LearLove]

off - about to go out for a mtb ride now - windy and cold - this should be fun.

i would take the t-34 up but i don't feel like getting the snot kicked out of me - and pay $$ for it too.

 

[Rez O. Lewshun]

In addition... the ALPA national guys will be able to duduct all mustache grooming cost!!

 

[prtyprtyprncss]

I thought you could only deduct the portion of internet and cell phone fees that you actually used for work...seems the IRS would think 100% of the time for cell and net would be over the top...and cable??? My tax lady's really a bit too strict tho...

 

[Rez O. Lewshun]

I thought you could only deduct the portion of internet and cell phone fees that you actually used for work...seems the IRS would think 100% of the time for cell and net would be over the top...and cable??? My tax lady's really a bit too strict tho...

I guess you could pro rate the internet, then again can you get your internet subscription pro rated....

IOW.... it cost me $50 bucks to get basic hi-speed.. that is the lowest cost to get the service...


deduct it...