Quote:
Originally Posted by ComplexHiAv8r  If you are only increasing a skill set, and NOT preparing or another job, it can be tax deductable.
Example PPL - learning a new skill, NOT tax deductable
Example is Complex, HI training, IFR - increasing a known skill set, tax deductable
Example Commerical, CFI - change in skill set (new job potential), NOT tax deductable.
Not sure on ME (I need to look more into that!)
Once you have the commerical your medicals and BFR are deductable as a non-reimbursed business expense (if your company doesn't pay for it). Keeping current could also be, but I have heard that is still too far into the grey area. |
Correction: it would only be tax deductible if you were paying for training to increase your skill set
in your current occupation. Increasing a skill set in a hobby is not deductible.
Examples: If you currently have Comm-ASEL and are working as a pilot, getting your comm-AMEL
probably would be deductible. Getting your CFI would not be deductible because you would be preparing for a new profession (instructing) rather than improving skills for your current occupation.
If you are a CFI (and working as such), getting your CFI-I or MEI
probably would be deductible because you are improving your skill set as an instructor.
Being that it's the tax code, though, these things are very complicated and your mileage may vary.