Pilot Tax Programs - Recommendations?
#3
Gets Weekends Off
Joined APC: Mar 2014
Posts: 3,132
Download the "Standard client organizer"
http://***************/start-the-pro...ownload-forms/
Has pretty much everything you can deduct in it as examples.
You basically add it all up and throw it into the un-reimbursed expense section when it comes to that part of your tax form. It's pretty easy. All the paid preparers do is take all the info you give them and put it in the program, you do 95% of the work adding it all up might as well do the other 5% and save the $200 they charge these days.
Make sure when you enter the per diem you check the transportation worker box as that will give you the 80% deduction vs. the standard 50%. Also make sure you input the companies per diem payout as well as a reimbursed expense.
I have used TurboTax and H&R Block they both do the same thing, I find I like TurboTax more. I use the download to computer version vs. the online only. Now, if you have some complicated tax situations then you need to search out a CPA but if you are like most who just do the normal stuff with maybe a home mortgage too you're fine.
If you can't meet more than the standard deduction just take it and throw everything else out. To be honest unless you pay a decent chunk in home mortgage interest it's tough to hit that.
Edit. I can't link to a website? Holy hell what has this place become? OP go to *************** and under "Start the process" at the bottom click on the download forms link.
Edit 2: Jesus H Christ. pil0t-tax.c0m but replace the zeros with o's. My God.
http://***************/start-the-pro...ownload-forms/
Has pretty much everything you can deduct in it as examples.
You basically add it all up and throw it into the un-reimbursed expense section when it comes to that part of your tax form. It's pretty easy. All the paid preparers do is take all the info you give them and put it in the program, you do 95% of the work adding it all up might as well do the other 5% and save the $200 they charge these days.
Make sure when you enter the per diem you check the transportation worker box as that will give you the 80% deduction vs. the standard 50%. Also make sure you input the companies per diem payout as well as a reimbursed expense.
I have used TurboTax and H&R Block they both do the same thing, I find I like TurboTax more. I use the download to computer version vs. the online only. Now, if you have some complicated tax situations then you need to search out a CPA but if you are like most who just do the normal stuff with maybe a home mortgage too you're fine.
If you can't meet more than the standard deduction just take it and throw everything else out. To be honest unless you pay a decent chunk in home mortgage interest it's tough to hit that.
Edit. I can't link to a website? Holy hell what has this place become? OP go to *************** and under "Start the process" at the bottom click on the download forms link.
Edit 2: Jesus H Christ. pil0t-tax.c0m but replace the zeros with o's. My God.
#6
Gets Weekends Off
Joined APC: Feb 2007
Position: FO
Posts: 3,033
Example, you were assigned to go talk at a school to recruit pilots. You drove your own vehicle and weren't given any reimbursement.
According to the court cases listed here commuting expenses are not tax deductible.
Flight Crew Deductions - Tax Court Rulings - Watson CPA Group
I used this per diem calculator the past couple years.
Free Per Diem Calculator - Pilot Per Diem - Flight Attendant Per Diem - Airline Per Diem
I'm not a tax professional, so seek professional advice. That's my disclaimer.
Also, I use freetaxusa for taxes
Last edited by BlueMoon; 01-06-2016 at 04:48 PM.
#8
2. the answer to your question is generally no (for driving/commuting to work). There are some exceptions:
a. driving directly from 1 job to a second job (different employer) on the same day
b. driving for a volunteer job at a charitable organization
c. driving to a military reserve/guard job (different rules if >100 miles)
d. you have a legitimate business and the car is used for that, and not reimbursed by someone.
https://www.irs.gov/publications/p463/ch04.html
#9
Gets Weekends Off
Joined APC: Dec 2005
Position: 7ER B...whatever that means.
Posts: 3,967
I'll second ezperdiem. Been using them for years. Works great.
Full disclosure: I know the guy personally that owns and runs it. Real smart when it comes to taxes for transportation workers. I think he even has a service for truckers and railroad employees.
Full disclosure: I know the guy personally that owns and runs it. Real smart when it comes to taxes for transportation workers. I think he even has a service for truckers and railroad employees.
#10
Banned
Joined APC: Sep 2015
Posts: 519
I was thinking more of a reimbursable thing like driving from HQ to an outlying base. I don't really see where that would apply in the 121 world like it might in the 135 world. Just thought I'd ask.
FWIW, commuting from home to HQ is not a deduction. But commuting from HQ to another base to fly from there is.
FWIW, commuting from home to HQ is not a deduction. But commuting from HQ to another base to fly from there is.
You used you're own car for business purposes and were not reimbursed.
Example, you were assigned to go talk at a school to recruit pilots. You drove your own vehicle and weren't given any reimbursement.
According to the court cases listed here commuting expenses are not tax deductible.
Flight Crew Deductions - Tax Court Rulings - Watson CPA Group
I used this per diem calculator the past couple years.
Free Per Diem Calculator - Pilot Per Diem - Flight Attendant Per Diem - Airline Per Diem
I'm not a tax professional, so seek professional advice. That's my disclaimer.
Example, you were assigned to go talk at a school to recruit pilots. You drove your own vehicle and weren't given any reimbursement.
According to the court cases listed here commuting expenses are not tax deductible.
Flight Crew Deductions - Tax Court Rulings - Watson CPA Group
I used this per diem calculator the past couple years.
Free Per Diem Calculator - Pilot Per Diem - Flight Attendant Per Diem - Airline Per Diem
I'm not a tax professional, so seek professional advice. That's my disclaimer.
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