Originally Posted by
RetiredFTS
OK, I am going to test the "no stupid questions" theory and since new hires are here and increasing, here goes:
1. How exactly does their data (pro diem or flightline) get utilized on a tax return? My assumption is that we are not adequately reimbursed for on-the-job expenses.
2. Is there other accounting/record keeping that needs to be done on my part to show actual expenses vs. reimbursement?
Public or PM answers would be appreciated.
Greatly appreciated,
FTS
First of all you will only see a tax advantage if you itemize deductions. Assuming you do, Pro-Diem or Flightline allows you to deduct the maximum amount for meal expenses without keeping any records. Basically, you take the amount they come up with and subtract what per diem you received from Delta and write off the rest. As transportation workers we get to write off a bigger percentage.
My taxes are fairly simple, I just throw the numbers into Turbo Tax and voila! If I remember correctly, doing this saves me in excess of $700. (I think I'm on the low side with that figure)
Denny