Tax question

[Lindy]

Still looking...

I haven't forgot about that case....

4 states in 12 months/furloughed/storage units/new apartment

Where oh where did I read the article? Which Aviation Law forum? Or was it a Tax Law Forum?

Still looking....


And the aforementioned site is great for information AND it is also good advertising for the company involved.

 

[CoopDog]

I remember reading an article last year about several Northwest pilots that owed the state of Minnesota thousands in back taxes. It seems the state claimed they were residents, even though they listed FLA (I believe) as their home.

I used to know a guy in NC who flew for UAL and owned a boat in FLA, which he visited on occasion. He had a kid in college in a state school in NC, paying instate tuition. He also had both cars in NC with FLA tags. Meanwhile, he paid no NC state income tax because he claimed he was a resident of FLA (even though his house floated). He used the extra $12,000+ a year to pay for the FLA boat (excuse me, house) and his kid's college tuition.

 

[CoopDog]

Tax tips for furloughees

Speaking of tax tips, he's one I saw on my ALPA web board the other day, posted by a soon to be furloughed pilot in tax class.

In the State of NC, as well as some others I'm sure, one who has been furloughed or severed from his/her job through no fault of their own can deduct up to $35,000 of severance pay directly off the wages for state tax purposes.

For example, if you reside in North Carolina, and if you received say $10,000 in furlough pay from your airline, that will save you $700 in state taxes (works out to about 7%). This is a little known deduction that the state allows.

Happy deductions!

 

[StarrBuck]

Last year I found a tax guy (someone told me about him) in Cleveland.. Anyway, Great guy I called him about 200 times with 200 questions, and he was always very helpful.. He only does taxes for crewmembers, so he knows what he is talking about. The best part was he only charges $65.00 for your main return. If you have extra forms he charges $10 per form.. He had them done and returned to me 2 days after I sent them.. Excellent service, great price..

www.tax4crews.com

 

[Checks]

F18,

I also deduct for trips to my guard unit but have a question about per diem. I stay a family members house when I attend guard duty so I dont have any reciepts for lodging but was wondering what the rules are for deducting the standard per diem while I am away from home doing drill. I have not kept any receipts for food thinking I was going to just use the standard deduction. Is this correct?

Thanks

 

[AOPAPILOT]

A great point to remember, pilots need to pick a state that has no income tax, and make that the home base. The NWA pilots were smart to list Florida as their home, but dumb to have the wife and kiddies in school in Minnesota. Cover your tracks and you will be OK. No need to stretch the law. It is there to take advantage of. Read the IRS.gov site. If you can read the approach plates, you can understand the information from the IRS.

 

[f18pugsley]

Checks,

I don't save dining receipts either (since I don't drink, I almost never spend more for food than the standard meal allowance). All you need is a means to prove which days you were at your unit (flight schedule or something like that), then duduct the standard meal allowance for each day you were there.

Where you stay has no bearing on the meal allowance. Just don't try to be tricky and try to claim you were paying your relatives rent while you were staying there (unless you really were and have receipts to prove it). When I go to drill weekend, I get a free room at the BOQ since I live more than 50 miles away. This doesn't reduce the amount of food I will eat over the weekend. The IRS doesn't know if you are getting your free room from the unit or your family.

Also, make sure you don't claim the days you were on det and got per diem. The only exception to that is if you get stuck with the Navy's 'Smart Per Diem' where you only get some amount less than the standard per diem rate. If that is the case, then you can deduct the difference.

 

[Bad-Andy]

Remember, as a crew member, if the amount of the bill is less than $75, you don't need a receipt. All you need is a "written documentation" somewhere of it. I jot stuff down in my crew book, and transfer it to a homemade spreadsheet on the laptop. I got audited once as a first year regional F/O. The guy called me a liar when I told him I made less than 15k. After showing him the W2's and the crew book along with an organized spreadsheet, he ended up oweing me about $20. Haven't been audited since...

 

[AAflyer]

I have been filing my own taxes for 3 years now via Turbo Taxand the internet. I have not been audited yet (Knock on wood). How many of you filed electronically have ever been audited?

Second, How many of you that used a pilot tax service ever been audited. Just curious. Thanks

AAflyer