Originally Posted by
Std Deviation
On first year reserve your per diem is not likely to be that much (at least in my case it wasn't, especially with day trips and sitting.) So when it came to taxes I opted not to pay for the FLICA accounting. It would have been a wash for me. Wasn't worth the hassle in my personal case. Second year? There's probably a benefit but not a windfall. In the realm of most creative tax methods, I flew with one captain that started a "church" so that he could shield his income from taxes. Amen, I guess?
That's what I'm thinking until I hold a line or start flying a little more on reserve.
Amen.. gotta love it.....