FDX - EZ Perdiem for FDX crews
02-07-2009, 02:08 PM
#31
Gets Weekends Off
Joined APC: Oct 2006
Position: 777 Capt
Posts: 403
not to mention that if you hit the Alternative Minimum Tax figure - none of these "Unreimbursed Employee Business Expenses" will change your tax due anyway - the ATM kicks in and wipes all of them out.
You could "find" $50K worth of travel and meals deductions and it wouldn't matter - the ATM is the ATM once you get into it.
You could "find" $50K worth of travel and meals deductions and it wouldn't matter - the ATM is the ATM once you get into it.
But, with the cutback in flying this year, it may be worth it next tax season.
02-07-2009, 05:38 PM
#32
Gets Weekends Off
Joined APC: Nov 2006
Posts: 147
$59 to all but insure that I'm safe from an audit, not to mention the cost of my personal time with a calculator and a pencil wondering if I'm doing it right, is WELL worth it.
02-07-2009, 08:26 PM
#33
Gets Weekends Off
Thread Starter
Joined APC: Sep 2006
Posts: 1,338
Actually
Irs pub gives two different accounting methods to figure what you are allowed. The employer is also given some options. Not to mention that the perdiem rates change in October and the employer is not required to use the new figures when they do their figures for their "accountable system". As the employee, you can use either method provided you use the same methodology for the whole year. In one method, you are allowed to claim 3/4 of a day for any portion of a day you are gone.......where the company does it on a pro-rata basis. You can either do the pro-rata or the 3/4 day for any partial day. I think these perdiem calculators will do all the options for you and provide you with the highest paying alternative.
That's what I gleaned from IRS pub 529
That's what I gleaned from IRS pub 529
02-08-2009, 08:14 PM
#34
Gets Weekends Off
Joined APC: Aug 2006
Position: Triple Capt
Posts: 608
It should be well worth it but I've been doing it myself for the last 3 yrs. This year though I did it myself and am awaiting prodeim's reply -- I figure if I'm close then I won't spend the $$ next year. My own little check and balance on myself -- cannot hurt.
What really gets me is the number of guys I fly with who don't do this, domestic and international.
What really gets me is the number of guys I fly with who don't do this, domestic and international.
02-08-2009, 08:32 PM
#35
Line Holder
Joined APC: Sep 2006
Position: B757/CA
Posts: 61
I received my pro-diem statement tonight (Sun) after submitting the information yesterday afternoon. I flew 5 months of Airbus SIBA last year and now I'll be getting an extra $1200 back on my taxes...Definitely worth the $59!!!!
02-09-2009, 07:21 AM
#36
Gets Weekends Off
Joined APC: Apr 2006
Position: 767 CA
Posts: 1,876
OK, here's a question for the pilot accountants. I don't fly O&B's so I'm not considering this for myself, but just thought of this one. The company doesn't pay us per diem for O&B's but can you deduct the per diem rate for the city you went to? Anyone ask a real accountant?
02-09-2009, 08:41 AM
#37
Bourgeoisie
Joined APC: Aug 2006
Position: 787 SO
Posts: 617
OK, here's a question for the pilot accountants. I don't fly O&B's so I'm not considering this for myself, but just thought of this one. The company doesn't pay us per diem for O&B's but can you deduct the per diem rate for the city you went to? Anyone ask a real accountant?
O&B's do not qualify for M&IE since you are not "traveling away from home." The IRS publication 463 states "You are traveling away from home if: - Your duties require you to be away the general area of your tax home (defined later) substantially longer than an ordinary day's work, and - You need to sleep or rest to meet the demands of your work while away from home." Pub 463 offers examples of a Railroad Conductor that gets a hotel room, sleeps and eats, then returns to duty as eligible for M&IE and a truck driver that has a one-hour turnaround (like our O&B's) and is not eligible for M&IE. In short it states that since the brief time off was not adequate to get a rest period you are "not traveling away from home."
I'm not an accountant (yet) but I do pay one. Hope this helps. Check out the link for more information.
http://www.irs.gov/pub/irs-pdf/p463.pdf
02-10-2009, 09:34 PM
#38
Gets Weekends Off
Joined APC: Sep 2006
Position: MD11
Posts: 315
Results?
It should be well worth it but I've been doing it myself for the last 3 yrs. This year though I did it myself and am awaiting prodeim's reply -- I figure if I'm close then I won't spend the $$ next year. My own little check and balance on myself -- cannot hurt.
What really gets me is the number of guys I fly with who don't do this, domestic and international.
What really gets me is the number of guys I fly with who don't do this, domestic and international.
02-11-2009, 04:25 PM
#39
On Reserve
Joined APC: May 2007
Position: MD-11 - FO
Posts: 11
O.K. Here are my numbers. The difference between my calculations from the per-diem summarys vs. pro-diem numbers for me was $1811.
Plugging the two different numbers into turbo-tax (IRS form 2106 worksheet) gives me an extra $363 on my refund.
Plugging the two different numbers into turbo-tax (IRS form 2106 worksheet) gives me an extra $363 on my refund.
Thread
Thread Starter
Forum
Replies
Last Post
