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Pilot Taxes/Per Diem

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For the guys/gals that do their own taxes, where do you add the per diem deduction? What section?
Thanks...

Per diem deductions are normally done on a Form 2106-business expenses. I used to break down my individual cities, per deim deduction, but as was stated by earlier poster, if flying 'domestic only' the deduction isn't that much. But does depend on how much your company pays for a per diem rate; if your company per diem rate is really low, and you have stays in 'high rate' cities, could be some serious coin, if not, as I said, not much of a deduction.

I have used TurboTax for the last 12 yrs. or so, just plug in the numbers and it fills out the forms for You.

As someone also said previously, TurboTax Rules!!

***Also, the new U.S 'tax cheat' Treasury Secretary uses TurboTax (as he testified before the Senate), you can't get any better endorsement than that. lol

PD
 
The old rule of thumb regarding domestic cities and per diem is just that, old.

Even if you only fly domestic, many large cities have per diem rates over $60/day. It all adds up. I'd at least figure out a ball park # for your deductions and determine if it's worth it. Don't just assume it isn't.

Turbo Tax!! - Don't waste your time doing your taxes without it.
 
BINGO. That's the answer. Accountants are a major ripoff. TurboTax rules.

I can't wait till they come out with TurboSurgeon!

How about TurboDentist or TurboWhore?
 
The perdiem stuff is a piece of cake and takes about 5 minutes each month to do it yourself.

Make a spreadsheet or something to keep track of each city you overnight in. Once a month instead of wasting time on FI, add up the amount of each overnight. It literally takes less than 5 minutes. At the end of the year, add up all the months, plug the numbers into form 2106 or Turbo Tax, and your done.

Those perdiem calculators are easy, but you can do it yourself and save some coin. I talked to a guy who used one of the calculators and then paid an airline accountant to do his taxes. Paid around $300 to get everything done. My tax prep bill this year will be $0. The IRS forms all download now in a form fillable PDF format that is easy to fill out. Print those babies up and mail them off. Takes about an extra week to get your refund vs. TurboTax, but I can wait a week for a refund if it saves me $40.
 
Also FWIW, my company pays $2/hr for perdiem. I usually average about 3-4 4-day trips per month almost all domestic. I was paid $4650 in perdiem by my company and the amount I figured for a perdiem amount allowed by the IRS was $7580. After all the fancy math on 2106 and schedule A, it netted me an additional $2000 or so in itemized deductions. This year the perdiem allowance got me an additional $380 on my return.
 
I've found that unless you overnight in nashville every night, it pays to use each city individually.
 
Just use the $52 standard meal allowance for every domestic city. As a transportation worker, if you use the standard meal allowance, you do not have to take the 75% deduction on the first and last day. This is per Publication 463 page 6.
 
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Just use the $52 standard meal allowance for every domestic city. As a transportation worker, if you use the standard meal allowance, you do not have to take the 75% deduction on the first and last day. This is per Publication 463 page 6.

I believe you can actually do it that way even if you use each city. You just have to be consistent in the way you pro-rate each trip.

You can use the first overnight amount for day 1 and day 2. Then you use the second overnight amount for day 3 and the third overnight amount for day 4. Or you can use the first overnight amount for day 1, the second overnight amount for day 2, and the third overnight amount for day 3 and day 4. You have to choose which way you want to do it and then do it the same way the entire year.
 

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