2018 taxes
02-13-2018, 08:40 AM
#11
Gets Weekends Off
Joined APC: May 2016
Posts: 1,013
Originally Posted by HighFlight
Not sure what you mean by emailing your rep?
The “good” news is that for 2018, M&IE is not deductible. One less thing to worry about.
The “good” news is that for 2018, M&IE is not deductible. One less thing to worry about.
I may contact my congressional reps too... there is no good news for pilots with this new tax scheme as the standard deduction did not infact double. The personal exemption was eliminated. Lots of smoke and mirrors.
02-13-2018, 09:13 AM
#12
Part of the problem
Thread Starter
Joined APC: Jul 2013
Position: CRJ200 CA
Posts: 577
Originally Posted by flydiamond
Email the union rep. If we can’t write of unreimbursed employee expenses anymore we need to push for those reimbursements to be increased...
I may contact my congressional reps too... there is no good news for pilots with this new tax scheme as the standard deduction did not infact double. The personal exemption was eliminated. Lots of smoke and mirrors.
I may contact my congressional reps too... there is no good news for pilots with this new tax scheme as the standard deduction did not infact double. The personal exemption was eliminated. Lots of smoke and mirrors.
https://www.forbes.com/sites/kellyph.../#126e7bb31401
02-13-2018, 09:22 AM
#13
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
Well, the standard deduction DID double, but as you say, the personal exemptions are now gone. Overall, it will be a net gain (less taxes) for most people in our pay range. A married couple loses $8K in PEs, but gains $12K in SD. So approximately $4K less income right off the bat.
Also, the tax brackets changed from 15~25% down to 12~22%, so some may see a decrease there. (And a small chance of an increase from 15-22%).
If we get more for unreimbursed expenses, then our M&IE needs to go up as well. Since the base rate is $51, that means we should get about $2.15 per hour. (Actually more, since as per my post prior, my personal EDV average is more like $62 per day).
Also, the tax brackets changed from 15~25% down to 12~22%, so some may see a decrease there. (And a small chance of an increase from 15-22%).
If we get more for unreimbursed expenses, then our M&IE needs to go up as well. Since the base rate is $51, that means we should get about $2.15 per hour. (Actually more, since as per my post prior, my personal EDV average is more like $62 per day).
Originally Posted by flydiamond
Email the union rep. If we can’t write of unreimbursed employee expenses anymore we need to push for those reimbursements to be increased...
I may contact my congressional reps too... there is no good news for pilots with this new tax scheme as the standard deduction did not infact double. The personal exemption was eliminated. Lots of smoke and mirrors.
I may contact my congressional reps too... there is no good news for pilots with this new tax scheme as the standard deduction did not infact double. The personal exemption was eliminated. Lots of smoke and mirrors.
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