Tax Time Q

[doublepsych]

Can anyone recommend a tax preparer that know the ins and outs of corporate pilot tax deductions?

I know there are some guys that really know some good deductions for airline guys, but I'm looking for someone that is maybe a bit more specialized in corporate stuff.

Plus, if anyone has any good deduction tips, I'm sure we'd all like to hear those too...

Thanks for any recommendations...

 

[CLR2LAN]

I would too, but what are you deducting that the company doesn't already pick up ( medicals, phones/service, training material ect...)

I'd like to know about dry cleaning and luggage though.

This will be my first year with this job, so i'm very intrested as well.

 

[jrbevis]

Turbotax allows you to add laundry

 

[CLR2LAN]

Turbotax allows you to add laundry

Thanks - Thats what i use...just dont remember that. I'll have to watch for it this time around.

 

[Rokit88]

Suzanne Walsh is near DFW. A good portion of her clientle(SP) are aviation people.
www.aviatortax.com/

 

[Wiggums]

How does your company pay expenses on the road? If the pay a per diem that is below the government rate make sure you deduct the difference.

If this is your first year on the job no doubt you have some job hunting expenses, which you can deduct.

When is comes to clothing purchase and cleaning you can only deduct if it is a uniform. If you could wear it outside your job then it's not deductible.

 

[bizjet800]

Turbotax allows you to add laundry

LOL....Thanks Slash! I didn't know GNR types washed their clothes.

 

[bizjet800]

There is a company near Louisville, KY that I used to use. They are actually in Southern Indiana. I can't remember the name but they did many UPS pilots.

 

[bizjet800]

I write off my cell phone, internet, ALL job hunting expenses including postage, mileage to and from interviews (48.5 cents per mile in 2007), all aviation magazine subscriptions, part of DirecTV since I use it for the Weather Channel, lunches with any possibility of a job opportunity(including mileage). I heard of people writing off half of their hair cuts, most of their gym memberships. Any legal fees, any loss due to theft, any moving expenses, just to name a few. Basically, ANTHING job related you spend money on that doesn't get reimbursed. Don't forget the money you spend do get your taxes done.

 

[xdrvr]

BizJet800 has a good grasp on write offs, be careful with the cell phone bill though. The Tax Law actually states that the phone has to be used 100% for business and not reimbursed of course. They don't allow you prorate or portion any of it for business only. If you have a plan that you go over and have to pay for due to business then you can write that portion off.. but if you're like most, when you go over your plan, you just bump it up. Yes dry cleaning you can take off, if it's for uniforms, but not for your streets. Clothing attire is a grey rule, but basically if you wouldn't wear them for normal everyday use, you can write off any clothing expenses. Haircuts, not. Dress shoes for the most part no. Gym memberships would be highly scrutinized by the IRS, but not likely to get you an audit just for that. The big items they are flagging in recent months are home office use and form 2106 (mileage) Any large write off amounts that would draw attention and not the norm. If you deduct mileage, make sure you keep a good log for audit purposes.