Pilot Tax returns...your recommendation

[VADriver]

Fellas,

Feedback requested...

Do it yourself...

Use Tax software like Tax Cut

Use tax prep service like H&R

Use standard professional...

Use someone who knows tax returns for pilots...

 

[Vladimir Lenin]

turbotax.com, the next best thing to having your CPA do it for you
cheaper, too

 

[NCFlyer]

I strongly recommend TurboTax.

I've been using it for years. Go through the step by step interview. It won't make your taxes fun but will at least make them easier.

Don't forget it will be deductible on next year's return.

 

[lumax]

I also use turbotax and find it easy and helpful to use.
If you are worried about an audit, for an additional fee, you can send your completed return to the turbotax people and they will verify the data. If you are then audited, they will go to bat for you.
Since we are on the topic of taxes, are there any tax deductions that you can think of that are sometimes overlooked in general or more specifically, by pilots?

 

[Northern Lights]

www.pilottax.com

I remember someone mentioning this site last year. I've never used it, but perhaps it could help if you've got a confusing tax return

 

[Gulfstream 200]

turbotax is good if you have an easy return.

If you have some more complicated deductions, investments, gains (or losses!), rental property, etc...go with a professional. Seek a reputable one at that. Not the $200 "tax professional at the mall"

A cheap professional who just asks for a box of recieipts and spends 5 mins with you is simply putting your info into Turbotax. dont waste the $$, you can do that.

 

[AV8700]

Turbotax for the web. Saves all the info from previous years and you only pay when you file the return. I have had no problems, even with complicated returns.

 

[Secret Squirrel]

Traveling expenses

My recordkeeping is pretty lax but I heard there is a standard deduction, like $15 a day for traveling expenses(food, tips, etc) and all you need is your logbook as evidence of the travel. I am not reimbursed (per diem) by my company. Any trueth to this?

 

[AV8700]

The IRS publishes a table with per diem rates for all cities.

www.irs.gov

 

[bobbysamd]

Tax prep

I have a B.S. in B.A. with an Accounting major which I never used except to prepare my own taxes. I did them manually for many years until I became computer-literate. Then, I used Turbo, until my return became too complicated. I then switched to my family's accountant. That was a wise move, for several reasons. For one thing, a good accountant or tax preparer will be up on all the changes. For another thing, bring him/her your records and it will be done for you. Finally, his/her name will be on the return with yours. The IRS will have someone else to look to in case of an audit. No worries. Paying the fee is worth it for that alone.

Using an aviation-oriented tax preparer is a good suggestion. There is plenty of informed opinion on the board about the various deductions, but a professional will look over your records and very well can come up with things that weren't considered.

Happy tax season.

 

[English]

Mine are complicated, so I use www.cpadaly.com.