Airline Pilot Central Forums - Any "Latest & Greatest" about Delta?

I haven't finished my 2018 taxes yet, but I ran my 2017 numbers through 2018 edition of Turbotax - the 2017 taxes using the 2018 tax laws resulted in paying 15% less federal tax. I'm a widebody FO, so that 15% is a decent amount, nothing to sneeze at.

As SailingFun said, the elimination of the AMT is what made the most difference I suspect. Yeah, my State and Local Taxes (SALT) deduction were capped at $10,000 but I wasn't too far above that anyway.

That’s good to know. Thanks. With AMT gone, I’m actually hoping for a small refund this year.

tunes

01-26-2019 03:58 PM

havent thrown my rental property stuff in turbo tax yet but so far it's showing a nice refund for me...i was expecting to pay this year so thats a nice surprise.

Scooter432

01-26-2019 06:26 PM

I’m showing a nice refund as well which I’m still happily surprised about. I’ve gone over it a few times to make sure there was not some huge errors. Typically I owe a little or have barely a refund in years past. With all the uncertainty I changed my withholdings conservatively to see how this year went. Now that I have a good baseline I’ll adjust from here.

jeffmjohnson53

01-27-2019 04:16 AM

Anyone use the IRS withholding calculator since the new tax law? Was it accurate? It’s giving me a significant change for this year. Thanks.

Scooter432

01-27-2019 10:26 AM

Quote:

Originally Posted by jeffmjohnson53 (Post 2750789)

Anyone use the IRS withholding calculator since the new tax law? Was it accurate? It’s giving me a significant change for this year. Thanks.

I used it and it showed my tax liability consistent with what turbo tax is telling me. As of now I'm really digging the Trump Tax reform at least in my specific case :)

sailingfun

01-28-2019 08:50 AM

Everyone should take a look at their rules for consuming alcohol on a trip. Way to many issues. It’s not worth your career. I use 12 hours to report and a 2 drink max on a layover. Whatever you feel is appropriate set a limit and stick with it. Keep in mind in AMS the law requires 10 hours.

Sputnik

01-28-2019 09:38 AM

Quote:

Originally Posted by sailingfun (Post 2751527)

Not arguing the point, just curious what it was about a tax conversation that brought it up?

dalad

01-28-2019 09:48 AM

Quote:

Originally Posted by sailingfun (Post 2751527)

Someone got caught in AMS, and it amazes that anybody would put themselves in jeopardy like this after the numerous communications about drinking in AMS.

Hrkdrivr

01-28-2019 10:09 AM

Quote:

Originally Posted by Sputnik (Post 2751547)

Not arguing the point, just curious what it was about a tax conversation that brought it up?

The thread is Delta L&G, not taxes. He was just throwing something new out there.

tennisguru

01-28-2019 11:04 AM

Quote:

Originally Posted by Hrkdrivr (Post 2751573)

The thread is Delta L&G, not taxes. He was just throwing something new out there.

Right, just with no context...