Tax programs
 

I know this might be a little silly but when it comes to tax programs which one is the one to dive for? TurboTax is a good one but I can't remember what I used last year. Do I use 2008 or is there a 2009 coming out? Most programs, like vehicles, always are a year ahead. For instance you can get a 2010 car in 20009. So can I use TurboTax 2008 or will there be an 09? Normally I expect to know better but I only do it once a year.

Is doing your taxes productive use of your time? Not for me, it isn’t. Find an accountant you like and begin building a long-term relationship. Of course, I’m assuming that, if not already, you’ll one day move up the professional pilot ladder and generate increasing, and substantial, income. You’ll also own a home, which means you will have developed a personal relationship with your banker. As you accrue assets you’ll be forced to become more sophisticated with your investments, which means you’ll develop a personal relationship with a financial advisor. If you’re married, your wife will generate assets that need to be monitored. Children? They have their own needs, as well.
What does all of this have to do with an accountant? Why he/she, of course, coordinates all of this so that you stay legit while protecting your interests. I pay my accountant anywhere up to $300/year to keep my wife (who’s currently working and living out of state, meaning she has her own special tax needs) and me straight – and that includes two homes, plus a family summer camp that’s out of state, and substantial non-retirement income such as stock options. The money is well spent. Oh, by the way, I visit my accountant the first week of February every year and, by the time you figure out which version of TurboTax to use, I’m done. So, ask friends for a referral. You’ll never look back. Your time is too important not to.

I say, if you can't file a 1040EZ and you are in the flying biz, get a tax lawyer. I found out first hand why.

EZPerDiem and EZCrewTax for Crewmembers
 

There are some tax companies out there that help pilots.

Personally, I use EZPerDiem.com to get the most out of my per diem and take some money back from Uncle Sam.

I also use EZCrewTax.com. It's easy, like they say, and it helps me get a bigger return.

Use the code: C1Q4L - to get an additional 10% OFF. It is way cheaper than using a non-pilot oriented tax preparer.

EZPerDiem - Per Diem Tax Rates & The Per Diem Calculator for Flight Crews!
EZCrewTax - Tax Preparation for Flight Crews