Author: "jferraro16" <jferraro16@...> Time: Thu Mar 11, 2004 11:11 am PST Link
Any builders out there who are professional pilots and/or mechanics
who deduct this hobby from their taxes under "education"
or "publications".... Looking for ideas, email off line if you feel
more comfortable jferraro16 at yahoo.com OR at comcast.net
Thanks
Joe
Author: "William J. LaPorte" <laporte@...> Time: Fri Mar 12, 2004 6:01 am PST Link
Agreed Jeff
My understanding is that for hobbies, you can only deduct expenses against
income generated by the hobby. Thus, since the FAA doesn't allow a Private
Pilot to fly for hire, there should be no income to deduct against. Just
MHO, with the recommendation to consult a tax specialist.
Regards,
Bill
RV-9A 90696
Wings in progress
William J. LaPorte
Director, Engineering & Operations
EDAC Systems, Inc.
540-361-1580
FAX 361-1581
LaPorte@...
-----Original Message-----
From: Jeffrey Hall [mailto:jhallrv4@...]
Sent: Thursday, March 11, 2004 10:45 PM
To: vansairforce@yahoogroups.com
Subject: Re: [VAF Mailing List] Taxes
Can you say "audit"?
[Non-text portions of this message have been removed]
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Author: "jferraro16" <jferraro16@...> Time: Fri Mar 12, 2004 9:07 am PST Link
You guys aren't reading the question. I asked about PROFESSIONAL
pilots/mechanics, ie an airline guy, corporate pilot or someone who
works as an A&P. My mistake for using the word 'hobby', as I can
see where that could be confusing. I'm talking "job related
expenses". Turbo tax specifically says you can deduct educational
expenses that "maintains or improves skills required in your present
work". Since the experimental aviation field is--by FAA definition--
all about education, I thought I'd ask if anyone has tested the
waters on this. I didn't say I have deducted anything, just asking
if anyone in this circumstance has. Just throwing it out there.
IMO, no different than registering your airplane through a Corp. in
Delaware, when you live in East Nowhere, Idaho (no offense to the
Idahoans out there)...we all know the real reason it's done. Just
thought I'd ask.
Joe
--- In vansairforce@yahoogroups.com, "William J. LaPorte"
<laporte@e...> wrote:
> Agreed Jeff
> My understanding is that for hobbies, you can only deduct expenses
against
> income generated by the hobby. Thus, since the FAA doesn't allow a
Private
> Pilot to fly for hire, there should be no income to deduct
against. Just
> MHO, with the recommendation to consult a tax specialist.
> Regards,
>
> Bill
>
> RV-9A 90696
>
> Wings in progress
>
> William J. LaPorte
> Director, Engineering & Operations
> EDAC Systems, Inc.
> 540-361-1580
> FAX 361-1581
> LaPorte@E...
>
> -----Original Message-----
> From: Jeffrey Hall [mailto:jhallrv4@c...]
> Sent: Thursday, March 11, 2004 10:45 PM
> To: vansairforce@yahoogroups.com
> Subject: Re: [VAF Mailing List] Taxes
> Can you say "audit"?
>
> [Non-text portions of this message have been removed]
> Online help on this group at:
> http://help.yahoo.com/help/groups/
<http://help.yahoo.com/help/groups/
> _____
>
> Yahoo! Groups Links
> * To visit your group on the web, go to:
> http://groups.yahoo.com/group/vansairforce/
> <http://groups.yahoo.com/group/vansairforce/
> * To unsubscribe from this group, send an email to:
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subject=Unsubscribe
> * Your use of Yahoo! Groups is subject to the Yahoo! Terms of
Service
> <http://docs.yahoo.com/info/terms/> .
> [Non-text portions of this message have been removed]
Author: ewinne@... Time: Fri Mar 12, 2004 9:49 am PST Link
Professional pilots have hobbies, too, but can't deduct for them, either, unless used as a business. Much as I'd like the government to subsidize my hobby, I'd cry bloody murder if they did. It sure isn't a good use of my taxes, and I'd think you'd have to be a fool (or a criminal) to try to deduct for an airplane built for pleasure purposes.
If I remember right, the FAA doesn't let us fly these things for-hire except for very limited training (type training, not primary training) purposes, so that limits the potential deductibility.
Ed Winne
Author: "Bob Collins" <bcollins@...> Time: Fri Mar 12, 2004 10:01 am PST Link
A couple of things:
First, unless the expenses add up to 2% of AGI, forget it.
But you also have to be sure that whatever you're claiming is
DIRECTLY related to your profession.
* For example, a trucker can't deduct the cost of a new car because
it helps him stay sharp driving. Similarly, you can't deduct the cost
of a private airplane because it "helps" you fly a 747.
* You might be able to claim an education expense for something
used in your profession. But building a plan isn't an educational
expense for a pilot, it's an educational expense -- perhaps -- for
someone who builds airplanes for a living. The IRS, if you try to
claim it as a pilot, is going to ask someone whether you can fly a
747 and NOT know how to backrivet. Answer. Yes. Bang, letter from IRS
asking to come on in. <g>
* If you have a commercial pilot certificate and you have expenses
in that realm... liability insurance for example. You CAN deduct
that. Just like the guy who brings you the morning paper can deduct a
proportion of his car expenses/payment/insurance/registration.
How might this all play out in the world of RV building. George
Orndorff COULD, for example, buy an RV kit and all the tools and
junk necessary to build it, so that he can film it and sell
videotapes. Entirely correct. That's a business expense. But his
business isn't flying; his business is showing you how to build.
But the key word here is "required." A kit is required for George
to film building it; but a kit is not required to fly for a major
airline.
Bob
St. Paul
--- In vansairforce@yahoogroups.com, "jferraro16" <jferraro16@c...>
wrote:
> You guys aren't reading the question. I asked about PROFESSIONAL
> pilots/mechanics, ie an airline guy, corporate pilot or someone who
> works as an A&P. My mistake for using the word 'hobby', as I can
> see where that could be confusing. I'm talking "job related
> expenses". Turbo tax specifically says you can deduct educational
> expenses that "maintains or improves skills required in your
present
> work". Since the experimental aviation field is--by FAA definition-
-
> all about education, I thought I'd ask if anyone has tested the
> waters on this. I didn't say I have deducted anything, just asking
> if anyone in this circumstance has. Just throwing it out there.
> IMO, no different than registering your airplane through a Corp. in
> Delaware, when you live in East Nowhere, Idaho (no offense to the
> Idahoans out there)...we all know the real reason it's done. Just
> thought I'd ask.
>
> Joe
> --- In vansairforce@yahoogroups.com, "William J. LaPorte"
> <laporte@e...> wrote:
> > Agreed Jeff
> > My understanding is that for hobbies, you can only deduct
expenses
> against
> > income generated by the hobby. Thus, since the FAA doesn't allow
a
> Private
> > Pilot to fly for hire, there should be no income to deduct
> against. Just
> > MHO, with the recommendation to consult a tax specialist.
> > Regards,
> >
> > Bill
> >
> > RV-9A 90696
> >
> > Wings in progress
> >
> > William J. LaPorte
> > Director, Engineering & Operations
> > EDAC Systems, Inc.
> > 540-361-1580
> > FAX 361-1581
> > LaPorte@E...
> >
> > -----Original Message-----
> > From: Jeffrey Hall [mailto:jhallrv4@c...]
> > Sent: Thursday, March 11, 2004 10:45 PM
> > To: vansairforce@yahoogroups.com
> > Subject: Re: [VAF Mailing List] Taxes
> > Can you say "audit"?
> >
> > [Non-text portions of this message have been removed]
> > Online help on this group at:
> > http://help.yahoo.com/help/groups/
> <http://help.yahoo.com/help/groups/
> > _____
> >
> > Yahoo! Groups Links
> > * To visit your group on the web, go to:
> > http://groups.yahoo.com/group/vansairforce/
> > <http://groups.yahoo.com/group/vansairforce/
> > * To unsubscribe from this group, send an email to:
> > vansairforce-unsubscribe@yahoogroups.com
> > <mailto:vansairforce-unsubscribe@yahoogroups.com?
> subject=Unsubscribe
> > * Your use of Yahoo! Groups is subject to the Yahoo! Terms of
> Service
> > <http://docs.yahoo.com/info/terms/> .
> > [Non-text portions of this message have been removed]
Author: "Steven L. Hild" <L-of-Louavul@...> Time: Fri Mar 12, 2004 10:20 am PST Link
-Joe: I am a currently employed as an A&P mechanic and had similar
thoughts about building as a deduction. My research with the
assistance of a CPA revealed that it just be worth a shot. Building,
in my mind allows me to keep current my abilities, learn new
techniques and stay abreast of latest inovations. All identifiable
as education. All deductable areas per the IRS. If actors can
deduct watching a movie as an educational expense, why can't I do
something similar?
The end result was I didn't do it for fear of the IRS. The
penalities for having disallowed deductions that might not come for
years (interest)backed me off. As explained to me it would be the
opinion of the auditor WHEN I was audited that would have the say.
Just not worth the fight or the gamble.
Good Luck!
Steven L. Hild
La Vernia, TX
Finishing Wings! RV-7
-- In vansairforce@yahoogroups.com, "jferraro16" <jferraro16@c...>
wrote:
> Any builders out there who are professional pilots and/or mechanics
> who deduct this hobby from their taxes under "education"
> or "publications".... Looking for ideas, email off line if you
feel
> more comfortable jferraro16 at yahoo.com OR at comcast.net
>
> Thanks
> Joe
Author: "Steven L. Hild" <L-of-Louavul@...> Time: Fri Mar 12, 2004 10:21 am PST Link
-Joe: I am a currently employed as an A&P mechanic and had similar
thoughts about building as a deduction. My research with the
assistance of a CPA revealed that it just be worth a shot. Building,
in my mind allows me to keep current my abilities, learn new
techniques and stay abreast of latest inovations. All identifiable
as education. All deductable areas per the IRS. If actors can
deduct watching a movie as an educational expense, why can't I do
something similar?
The end result was I didn't do it for fear of the IRS. The
penalities for having disallowed deductions that might not come for
years (interest)backed me off. As explained to me it would be the
opinion of the auditor WHEN I was audited that would have the say.
Just not worth the fight or the gamble.
Good Luck!
Steven L. Hild
La Vernia, TX
Finishing Wings! RV-7
-- In vansairforce@yahoogroups.com, "jferraro16" <jferraro16@c...>
wrote:
> Any builders out there who are professional pilots and/or mechanics
> who deduct this hobby from their taxes under "education"
> or "publications".... Looking for ideas, email off line if you
feel
> more comfortable jferraro16 at yahoo.com OR at comcast.net
>
> Thanks
> Joe
Author: "Booger" <booger99@...> Time: Fri Mar 12, 2004 10:22 am PST Link
yes and no
built for educational purposes if you can sell that
I think flight training is allowed in experimental aircraft (primary) which would make it
tax deductible under a business. It's called EAA's Exemption # 7162.
There's a article in Awe about it a flight instructor in Winter haven Florida is giving multi engine
instruction in a kit built Air Cam
Brian S
----- Original Message -----
From: ewinne@...
To: vansairforce@yahoogroups.com
Sent: Friday, March 12, 2004 11:37 AM
Subject: Re: [VAF Mailing List] Taxes
Professional pilots have hobbies, too, but can't deduct for them, either, unless used as a business. Much as I'd like the government to subsidize my hobby, I'd cry bloody murder if they did. It sure isn't a good use of my taxes, and I'd think you'd have to be a fool (or a criminal) to try to deduct for an airplane built for pleasure purposes.
If I remember right, the FAA doesn't let us fly these things for-hire except for very limited training (type training, not primary training) purposes, so that limits the potential deductibility.
Ed Winne
Online help on this group at:
http://help.yahoo.com/help/groups/
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[Non-text portions of this message have been removed]
Author: "Bob Collins" <bcollins@...> Time: Fri Mar 12, 2004 10:31 am PST Link
--- In vansairforce@yahoogroups.com, "Steven L. Hild" <L-of-
Louavul@m...> wrote:
>Building,
> in my mind allows me to keep current my abilities, learn new
> techniques and stay abreast of latest inovations. All identifiable
> as education.
But from an IRS point of view, just doing it doesn't qualify as
education. You'd have to receive instruction in the process, to be
able to prove, for example, that you really ARE learning new
techniques. Of course you might also be asked to prove that those new
techniques are REQUIRED at your present gig.
For example, you might be required some time to service some fancy
instrument -- take the Dynon, for example -- and while taking a class
in servicing them would qualify, BUYING a Dynon and installing it in
your own bird would not qualify as a proper expense.
Bob
Author: "Bob Collins" <bcollins@...> Time: Fri Mar 12, 2004 10:33 am PST Link
--- In vansairforce@yahoogroups.com, "Booger" <booger99@c...> wrote:
> yes and no
> built for educational purposes if you can sell that
> I think flight training is allowed in experimental aircraft
(primary) which would make it
> tax deductible under a business.
It would, but you wouldn't want to claim it under miscellaneous
expenses (which is subject to the 2% rule). Instead, you'd probably
want to file a Schedule C (self-employed) and claim the expenses for
providing your profession, in this case flight training.
You could then deduct all the expenses and maintenance, claim
depreciation etc...to the percentage that you actually used it to
make a buck.
Again using the newspaper carrier as an example. If I bought a new
car for $15,000, I can claim depreciation on that car every year
against what I earned throwing newspapers. I can claim gas,
registration, insurance etc. But if I also use the car for personal
purposes, I have to calculate what percentage is being used for
business and what percentage is being used for personal and
everything gets filed according to that percentage. If I spent $1200
on gas a year...and 50% of the miles driven were for business...I
could write off $600 against income.
The hook on depreciating an airplane is this: When you dispose of the
airplane, you're going to pay tax on the difference between what
it's "tax value" is (which is to say, 0) and what you received in
disposing (selling) it. That'll hurt. Big.
And be VERY careful that whatever you do, it doesn't kick in the AMT.
Bob
It's called EAA's Exemption # 7162.
> There's a article in Awe about it a flight instructor in Winter
haven Florida is giving multi engine
> instruction in a kit built Air Cam
>
> Brian S
>
> ----- Original Message -----
> From: ewinne@a...
> To: vansairforce@yahoogroups.com
> Sent: Friday, March 12, 2004 11:37 AM
> Subject: Re: [VAF Mailing List] Taxes
> Professional pilots have hobbies, too, but can't deduct for them,
either, unless used as a business. Much as I'd like the government to
subsidize my hobby, I'd cry bloody murder if they did. It sure isn't
a good use of my taxes, and I'd think you'd have to be a fool (or a
criminal) to try to deduct for an airplane built for pleasure
purposes.
>
> If I remember right, the FAA doesn't let us fly these things for-
hire except for very limited training (type training, not primary
training) purposes, so that limits the potential deductibility.
>
> Ed Winne
> Online help on this group at:
> http://help.yahoo.com/help/groups/
> --------------------------------------------------------------------
----------
> Yahoo! Groups Links
>
> a.. To visit your group on the web, go to:
> http://groups.yahoo.com/group/vansairforce/
>
> b.. To unsubscribe from this group, send an email to:
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> c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of
Service.
> [Non-text portions of this message have been removed]
Author: "midniteoyl2" <midniteoyl@...> Time: Fri Mar 12, 2004 12:19 pm PST Link
ASE Certified mechanics are NOT allowed to claim the car they
rebuilt as Educational on thier taxes... My buddy tried :)
Now, if you built the plane, then somehow made money on it, you
COULD deduct it, but as an Hobby Expense and only to the extent of
the money made... unless of course you made more than a few grand,
then you'd have to file as a Sole Proprietor and claim all the
associated taxes that go with it.
Jim
--- In vansairforce@yahoogroups.com, "Bob Collins" <bcollins@m...>
wrote:
> A couple of things:
> First, unless the expenses add up to 2% of AGI, forget it.
> But you also have to be sure that whatever you're claiming is
> DIRECTLY related to your profession.
>
> * For example, a trucker can't deduct the cost of a new car
because
> it helps him stay sharp driving. Similarly, you can't deduct the
cost
> of a private airplane because it "helps" you fly a 747.
>
> * You might be able to claim an education expense for something
> used in your profession. But building a plan isn't an educational
> expense for a pilot, it's an educational expense -- perhaps -- for
> someone who builds airplanes for a living. The IRS, if you try to
> claim it as a pilot, is going to ask someone whether you can fly a
> 747 and NOT know how to backrivet. Answer. Yes. Bang, letter from
IRS
> asking to come on in. <g>
>
> * If you have a commercial pilot certificate and you have
expenses
> in that realm... liability insurance for example. You CAN deduct
> that. Just like the guy who brings you the morning paper can
deduct a
> proportion of his car expenses/payment/insurance/registration.
>
> How might this all play out in the world of RV building. George
> Orndorff COULD, for example, buy an RV kit and all the tools and
> junk necessary to build it, so that he can film it and sell
> videotapes. Entirely correct. That's a business expense. But his
> business isn't flying; his business is showing you how to build.
>
> But the key word here is "required." A kit is required for
George
> to film building it; but a kit is not required to fly for a major
> airline.
>
> Bob
> St. Paul
> --- In vansairforce@yahoogroups.com, "jferraro16"
<jferraro16@c...>
> wrote:
> > You guys aren't reading the question. I asked about
PROFESSIONAL
> > pilots/mechanics, ie an airline guy, corporate pilot or someone
who
> > works as an A&P. My mistake for using the word 'hobby', as I
can
> > see where that could be confusing. I'm talking "job related
> > expenses". Turbo tax specifically says you can deduct
educational
> > expenses that "maintains or improves skills required in your
> present
> > work". Since the experimental aviation field is--by FAA
definition-
> -
> > all about education, I thought I'd ask if anyone has tested the
> > waters on this. I didn't say I have deducted anything, just
asking
> > if anyone in this circumstance has. Just throwing it out
there.
> > IMO, no different than registering your airplane through a Corp.
in
> > Delaware, when you live in East Nowhere, Idaho (no offense to
the
> > Idahoans out there)...we all know the real reason it's done.
Just
> > thought I'd ask.
> >
> > Joe
> > --- In vansairforce@yahoogroups.com, "William J. LaPorte"
> > <laporte@e...> wrote:
> > > Agreed Jeff
> > > My understanding is that for hobbies, you can only deduct
> expenses
> > against
> > > income generated by the hobby. Thus, since the FAA doesn't
allow
> a
> > Private
> > > Pilot to fly for hire, there should be no income to deduct
> > against. Just
> > > MHO, with the recommendation to consult a tax specialist.
> > > Regards,
> > >
> > > Bill
> > >
> > > RV-9A 90696
> > >
> > > Wings in progress
> > >
> > > William J. LaPorte
> > > Director, Engineering & Operations
> > > EDAC Systems, Inc.
> > > 540-361-1580
> > > FAX 361-1581
> > > LaPorte@E...
> > >
> > > -----Original Message-----
> > > From: Jeffrey Hall [mailto:jhallrv4@c...]
> > > Sent: Thursday, March 11, 2004 10:45 PM
> > > To: vansairforce@yahoogroups.com
> > > Subject: Re: [VAF Mailing List] Taxes
> > > Can you say "audit"?
> > >
> > > [Non-text portions of this message have been removed]
> > > Online help on this group at:
> > > http://help.yahoo.com/help/groups/
> > <http://help.yahoo.com/help/groups/
> > > _____
> > >
> > > Yahoo! Groups Links
> > > * To visit your group on the web, go to:
> > > http://groups.yahoo.com/group/vansairforce/
> > > <http://groups.yahoo.com/group/vansairforce/
> > > * To unsubscribe from this group, send an email to:
> > > vansairforce-unsubscribe@yahoogroups.com
> > > <mailto:vansairforce-unsubscribe@yahoogroups.com?
> > subject=Unsubscribe
> > > * Your use of Yahoo! Groups is subject to the Yahoo! Terms of
> > Service
> > > <http://docs.yahoo.com/info/terms/> .
> > > [Non-text portions of this message have been removed]
Author: "Bob Collins" <bcollins@...> Time: Fri Mar 12, 2004 12:41 pm PST Link
--- In vansairforce@yahoogroups.com, "midniteoyl2" <midniteoyl@w...>
wrote:
> ASE Certified mechanics are NOT allowed to claim the car they
> rebuilt as Educational on thier taxes... My buddy tried :)
If you were actually involved in a course to learn knew techniques
for your regular job, then you could deduct the cost of the course.
But, yeah, like I said, you can't deduct just DOING something.
> Now, if you built the plane, then somehow made money on it, you
> COULD deduct it, but as an Hobby Expense and only to the extent of
> the money made... unless of course you made more than a few grand,
> then you'd have to file as a Sole Proprietor and claim all the
> associated taxes that go with it.
Actually the way you figure these things is more of "losing" money on
a hobby, rather than making it. Where miscellaneous deductions are
concerned, a hobby loss is a loss in something where you weren't
expecting to make money in the first place. That's to get rid of the
horse owners, and professional gamblers and -- yeah -- pilots. <g>
And the real problem in terms of any tax advantage is in deducting
the loss in pursuing your hobby...you can't deduct it against your
other income...you can only deduct it against whatever money you MADE
pursuing your hobby.
Bob
St. Paul
Author: "Booger" <booger99@...> Time: Fri Mar 12, 2004 12:41 pm PST Link
Typo Correction "a artical in AVWEB"
Booger
----- Original Message -----
From: Booger
To: vansairforce@yahoogroups.com
Sent: Friday, March 12, 2004 12:09 PM
Subject: Re: [VAF Mailing List] Taxes
yes and no
built for educational purposes if you can sell that
I think flight training is allowed in experimental aircraft (primary) which would make it
tax deductible under a business. It's called EAA's Exemption # 7162.
There's a article in Awe about it a flight instructor in Winter haven Florida is giving multi engine
instruction in a kit built Air Cam
Brian S
----- Original Message -----
From: ewinne@...
To: vansairforce@yahoogroups.com
Sent: Friday, March 12, 2004 11:37 AM
Subject: Re: [VAF Mailing List] Taxes
Professional pilots have hobbies, too, but can't deduct for them, either, unless used as a business. Much as I'd like the government to subsidize my hobby, I'd cry bloody murder if they did. It sure isn't a good use of my taxes, and I'd think you'd have to be a fool (or a criminal) to try to deduct for an airplane built for pleasure purposes.
If I remember right, the FAA doesn't let us fly these things for-hire except for very limited training (type training, not primary training) purposes, so that limits the potential deductibility.
Ed Winne
Online help on this group at:
http://help.yahoo.com/help/groups/
------------------------------------------------------------------------------
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a.. To visit your group on the web, go to:
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vansairforce-unsubscribe@yahoogroups.com
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[Non-text portions of this message have been removed]
Online help on this group at:
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a.. To visit your group on the web, go to:
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[Non-text portions of this message have been removed]
Author: "midniteoyl2" <midniteoyl@...> Time: Fri Mar 12, 2004 3:13 pm PST Link
>COULD deduct it, but as an Hobby Expense and only to the extent of
> the money made
Agreed ;-)
Gamblers can do the same thing, but only to the extent of their
winnings. When I worked the track, there was a fairly large group
of 'professional' gamblers that would pay you a small fee if you let
them put thier name on your deferred-tax winnings (under $10k I
believe). That way they had more 'winnings' to deduct thier losses
from...
Jim
--- In vansairforce@yahoogroups.com, "Bob Collins" <bcollins@m...>
wrote:
> --- In vansairforce@yahoogroups.com, "midniteoyl2"
<midniteoyl@w...>
> wrote:
> > ASE Certified mechanics are NOT allowed to claim the car they
> > rebuilt as Educational on thier taxes... My buddy tried :)
>
> If you were actually involved in a course to learn knew techniques
> for your regular job, then you could deduct the cost of the
course.
> But, yeah, like I said, you can't deduct just DOING something.
> > Now, if you built the plane, then somehow made money on it, you
> > COULD deduct it, but as an Hobby Expense and only to the extent
of
> > the money made... unless of course you made more than a few
grand,
> > then you'd have to file as a Sole Proprietor and claim all the
> > associated taxes that go with it.
>
> Actually the way you figure these things is more of "losing" money
on
> a hobby, rather than making it. Where miscellaneous deductions
are
> concerned, a hobby loss is a loss in something where you weren't
> expecting to make money in the first place. That's to get rid of
the
> horse owners, and professional gamblers and -- yeah -- pilots. <g>
>
> And the real problem in terms of any tax advantage is in deducting
> the loss in pursuing your hobby...you can't deduct it against your
> other income...you can only deduct it against whatever money you
MADE
> pursuing your hobby.
>
> Bob
> St. Paul
Author: "midniteoyl2" <midniteoyl@...> Time: Fri Mar 12, 2004 3:14 pm PST Link
I beleive that article stated something about CFI's being able to
charge for, and recoop losses from, teaching while in an
Experimental were previously they had to teach only in Certified
craft in order to charge/claim.
Jim
--- In vansairforce@yahoogroups.com, "Booger" <booger99@c...> wrote:
> Typo Correction "a artical in AVWEB"
> Booger
> ----- Original Message -----
> From: Booger
> To: vansairforce@yahoogroups.com
> Sent: Friday, March 12, 2004 12:09 PM
> Subject: Re: [VAF Mailing List] Taxes
> yes and no
> built for educational purposes if you can sell that
> I think flight training is allowed in experimental aircraft
(primary) which would make it
> tax deductible under a business. It's called EAA's Exemption #
7162.
> There's a article in Awe about it a flight instructor in Winter
haven Florida is giving multi engine
> instruction in a kit built Air Cam
>
> Brian S
>
> ----- Original Message -----
> From: ewinne@a...
> To: vansairforce@yahoogroups.com
> Sent: Friday, March 12, 2004 11:37 AM
> Subject: Re: [VAF Mailing List] Taxes
> Professional pilots have hobbies, too, but can't deduct for
them, either, unless used as a business. Much as I'd like the
government to subsidize my hobby, I'd cry bloody murder if they did.
It sure isn't a good use of my taxes, and I'd think you'd have to be
a fool (or a criminal) to try to deduct for an airplane built for
pleasure purposes.
>
> If I remember right, the FAA doesn't let us fly these things
for-hire except for very limited training (type training, not
primary training) purposes, so that limits the potential
deductibility.
>
> Ed Winne
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Author: "jferraro16" <jferraro16@...> Time: Fri Mar 12, 2004 5:28 pm PST Link
--- In vansairforce@yahoogroups.com, "midniteoyl2" <midniteoyl@w...>
wrote:
> ASE Certified mechanics are NOT allowed to claim the car they
> rebuilt as Educational on thier taxes... My buddy tried :)
Thanks Jim, this is the kind of feedback I was looking for...
Joe