Originally Posted by
Magenta Line
I got a big beef with this tax equalization thing. So I'm part owner of a 50' Bertram at the Oregon Inlet which I lease out for deep sea fishing. I depreciate it and take it off of my taxes each year. What business of it is FedEx's? If I got $20K back in taxes last year, do I have to go to Fred and show him how much $$$ I made OUTSIDE of this FedEx gig? If I go to HKG, will I have to use PW? What if I don't want some recent Acct grad in a big glass house doing my taxes? I'm happy with my CPA in NC; he's legit, keeps me out of trouble, and keeps the Feds off my back.
What I do outside of work at FedEx is none of FedEx's business. And of course, I'm talking about legal, legit, honest work. I've met guys who have their own small businesses, A&P work, FAA examiners, government contractors, general contractors, etc... I'm not hip on letting somebody else into MY tax business. Straighten me out if I'm off base here.....
You are not off base. I own 2 S-corps...Emerald Coast Interview Consulting and the Emerald Coast Equestrian Center. I dont' really care if Fred & Company dive into my books--I have a CPA already doing them now that is very straightforward. However, I just cannot fanthom the @ss-pain of taking an already difficult and detailed tax return and expecting the same quality of service I get now. That means I won't bid this FDA--but not that its not a good deal for other folks. However--like you--there are are some of us who while we love our airline jobs also enjoy doing some other things in our time off.
A bigger question I have is "who watches the farm if I get SVT'd?" "Who cleans your boat and gets it serviced? How much money would you lose if you lost 3 months off your peak season?" These are the downdownsides of the SVT to those guys who enjoy mixing up their airline life with other challenges...