Go Back  Airline Pilot Central Forums > Airline Pilot Forums > Major > Delta
Any "Latest & Greatest" about Delta? >

Any "Latest & Greatest" about Delta?


Notices

Any "Latest & Greatest" about Delta?

Old 11-16-2014 | 03:23 PM
  #172461  
Line Holder
Liked
20 Years
 
Joined: Sep 2005
Posts: 1,393
Likes: 127
Default

Originally Posted by forgot to bid
I was looking at the awards and noticed someone at 50% working Christmas and then some. I was curious if they bid that because it'd been an easy time to get off. I go and look at the reasons report and they ftb.

Happens, but that stinks.
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.
Old 11-16-2014 | 03:43 PM
  #172462  
scambo1's Avatar
The Brown Dot +1
 
Joined: Jun 2009
Posts: 7,775
Likes: 0
From: 777B
Default

Originally Posted by marcal
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.
Old 11-16-2014 | 03:47 PM
  #172463  
Purple Drank's Avatar
Straight QOL, homie
 
Joined: Feb 2012
Posts: 4,202
Likes: 1
From: Record-Shattering Profit Facilitator
Default

Originally Posted by scambo1
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.
As an additional benefit for some, owning a farm opens up this avenue:

Online Dating, Free Dating Site & Farmer Dating Online For Singles
Old 11-16-2014 | 03:57 PM
  #172464  
RockyBoy's Avatar
Doesn't Get Weekends Off
 
Joined: Jun 2007
Posts: 2,599
Likes: 2
Default

Originally Posted by scambo1
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
I own one company and 50% of another. My LLC that I own 50% of is the family farm. (My dad owns the other half). I've had three accountants look over my taxes to try and manage them. After three years of losses the IRS can come in and designate your business as a hobby if it is not generating a profit. This will limit your deductions to something like $2000 per year. They usually won't bother you until 5 years. So this may work for a few years, but eventually you have to make money.

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.
Old 11-16-2014 | 04:03 PM
  #172465  
Cubdrick's Avatar
Gets Weekends Off
 
Joined: Jul 2009
Posts: 283
Likes: 0
From: #41
Default

Originally Posted by marcal
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.
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.
Old 11-16-2014 | 04:05 PM
  #172466  
Gets Weekends Off
 
Joined: Jun 2007
Posts: 461
Likes: 0
From: 7ER Capt
Default

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.
Old 11-16-2014 | 04:10 PM
  #172467  
RockyBoy's Avatar
Doesn't Get Weekends Off
 
Joined: Jun 2007
Posts: 2,599
Likes: 2
Default

Originally Posted by marcal
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.
Or you could bid it off then get an almost guaranteed GS.

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.
Old 11-16-2014 | 04:15 PM
  #172468  
RockyBoy's Avatar
Doesn't Get Weekends Off
 
Joined: Jun 2007
Posts: 2,599
Likes: 2
Default

Originally Posted by LivingTheDream
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.
Yep. It's a mess when they start unstacking. You get nothing but back to back unstacked trips.
Old 11-16-2014 | 04:20 PM
  #172469  
Gets Weekends Off
 
Joined: Oct 2010
Posts: 922
Likes: 0
From: Decoupled
Default

Remember, it's better to have a tax problem than no tax problem.
Old 11-16-2014 | 04:24 PM
  #172470  
Line Holder
Liked
20 Years
 
Joined: Sep 2005
Posts: 1,393
Likes: 127
Default

Originally Posted by RockyBoy
Or you could bid it off then get an almost guaranteed GS.

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.
Thats a great idea for when I'm senior enough to get it off if I wanted. Like I said, no biggie and glad someone will be home with their family. In return, I expect you all to bid to work all 8 crazy nights for me to be home….JK!
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
On Autopilot
Regional
22617
11-05-2021 07:03 AM
AeroCrewSolut
Delta
153
08-14-2018 12:18 PM
Bill Lumberg
Major
71
06-13-2012 08:36 AM
Quagmire
Major
253
04-16-2011 06:19 AM
JiffyLube
Major
12
03-07-2008 04:27 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices