Any "Latest & Greatest" about Delta?
Man, the Packers are just crushing teams lately.
So far, so good!! Aaron's on fire.
Gets Weekends Off
Joined APC: Sep 2005
Posts: 1,110
Perhaps they don't celebrate Christmas? I know I don't, and I consider it my duty to go to work that day so that at least one other pilot that does celebrate gets it off.
Back when I was single, I never worried about bidding Christmas off. Now, it's different, but working Christmas goes with the territory.
Straight QOL, homie
Joined APC: Feb 2012
Position: Record-Shattering Profit Facilitator
Posts: 4,202
The schedule f (farm) is powerful. It gets you depreciation, section 179, related fuel, oil, tools etc.
It takes about a year to be recognized by your state as a farm once you get the ball rolling. There is a minimum acreage size and a minimum acreage for the farmed product.
Front page write downs on the 1040 is how you limit your tax liability.
The acreage could be swampland at $500/acre, but gives you the same tax benefit as a vineyard in Napa.
It takes about a year to be recognized by your state as a farm once you get the ball rolling. There is a minimum acreage size and a minimum acreage for the farmed product.
Front page write downs on the 1040 is how you limit your tax liability.
The acreage could be swampland at $500/acre, but gives you the same tax benefit as a vineyard in Napa.
Online Dating, Free Dating Site & Farmer Dating Online For Singles
I've had a farm for a number of years now. It is generally good for 70k right off the top without using the section 179 expense. Section 179 maxes out at an annual ~$180k/yr. in itself. I don't live there any more, but keep it for the tax benefit. The schedule f (farm) is powerful. It gets you depreciation, section 179, related fuel, oil, tools etc.
It takes about a year to be recognized by your state as a farm once you get the ball rolling. There is a minimum acreage size and a minimum acreage for the farmed product.
Front page write downs on the 1040 is how you limit your tax liability.
The acreage could be swampland at $500/acre, but gives you the same tax benefit as a vineyard in Napa.
The above is not investment or tax advice. Dyodd
It takes about a year to be recognized by your state as a farm once you get the ball rolling. There is a minimum acreage size and a minimum acreage for the farmed product.
Front page write downs on the 1040 is how you limit your tax liability.
The acreage could be swampland at $500/acre, but gives you the same tax benefit as a vineyard in Napa.
The above is not investment or tax advice. Dyodd
Here is a good article that explains the basics of using a farm for tax purposes.
http://www.hobbyfarms.com/farm-marke...xes-14991.aspx
The only real way to have long term tax relief is to not get paid via W-2 wages like the really wealthy people do. With the current tax code it gets tough to hide money every year with a side business when all that business is doing is creating expenses to offset your W-2 wages.
Maybe I just have bad accountants, but side business won't help you hide income for very many years. My problem is both my business are doing great so now I've got that to deal with. 1st world problems.....it's tough I tell ya.
Last edited by RockyBoy; 11-16-2014 at 04:16 PM.
That's pretty cool, thanks Marcal. It didn't help me out this year, but I am sure many others including myself appreciate the sentiments.
Gets Weekends Off
Joined APC: Jun 2007
Position: 7ER Capt
Posts: 461
Like the farming idea... flew with a guy who had a Xmas tree farm... did very well tax wise. Also hearing that vacation rental property is a good way to go... need to do some homework.
Always get a chuckle when I read a new hire complaining about flying Xmas, holidays, weekends, etc. (especially when one is less than one year with the company!). Did they miss the brief that this is a seniority based system?
I pretty much counted on at least my first 5 years sucking, so I didn't see any point in complaining about it.
On another note. In 26years I have never seen the amount of guys flying the last 15dys of a month in a row without a break... IMHO FAR 117 has been a total disaster... very rarely happened with 30 in 7.
Always get a chuckle when I read a new hire complaining about flying Xmas, holidays, weekends, etc. (especially when one is less than one year with the company!). Did they miss the brief that this is a seniority based system?
I pretty much counted on at least my first 5 years sucking, so I didn't see any point in complaining about it.
On another note. In 26years I have never seen the amount of guys flying the last 15dys of a month in a row without a break... IMHO FAR 117 has been a total disaster... very rarely happened with 30 in 7.
That is why we need double pay on holidays. Then Marcal could bid it so those who celebrate Christmas could enjoy it off AND he would get paid double.
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