Tax Time

AV8TOR · January 23rd, 2007, 10:29

Quick question for former instructors that taught with ATP,

When you did your taxes with ATP, what did you write off, if anything? I talked with a tax professional yesterday, and asked.

I thought you could write off gas, part of cell phone bill. But come to find out I really can't write off any of that. Being that we don't pay taxes, I'm thinking I am going to have to pay taxes this year.

The lady I spoke with yesterday said, that if I had to change my phone plan to get more minutes, I could write that off, and if i wanted to write off my truck, I would need to keep a log, like if I make deposits and such.

Did anyone else have to pay taxes or were you able to get some $$ back??

Thank

Stone Cold · January 23rd, 2007, 11:21

Quote:

Originally Posted by AV8TOR

Quick question for former instructors that taught with ATP,

When you did your taxes with ATP, what did you write off, if anything? I talked with a tax professional yesterday, and asked.

I thought you could write off gas, part of cell phone bill. But come to find out I really can't write off any of that. Being that we don't pay taxes, I'm thinking I am going to have to pay taxes this year.

The lady I spoke with yesterday said, that if I had to change my phone plan to get more minutes, I could write that off, and if i wanted to write off my truck, I would need to keep a log, like if I make deposits and such.

Did anyone else have to pay taxes or were you able to get some $$ back??

Thank

I don't know how ATP would be, but just a heads up...if you don't pay into any taxes, you won't get money back. That is a tax refund. Also, I've done some Independent Contractor stuff, and unless you have some serious expenses (as a flight instructor, did you get your MEI, II, ATP after starting your job?), then you will usually end up with a standard deduction. Now, if you own a house, then yes, you should have enough mortgage interest to boost up your deductions, but normally without a house, this is not the case.

Good luck and make sure you keep with what the professional tax people tell you. Don't try to get creative or you could really hurt yourself if you get audited.

Captain_Bob · January 23rd, 2007, 11:25

I wrote off the mileage and gas on my car... kept a log and all... but only for a few trips.

DFW to JAX when I was hired and required by my employer to start and work in JAX... I commuted back to DFW from JAX a couple of times too.

JAX to PHX when I was transferred to the PHX location... I commuted home one time.

PHX to DFW when I was transferred back to my home base.

All in all.. the mileage and gas was the perfect deduction... even got a bit of money back. I don't think you can write off mileage for your daily commute to work though... I seem to remember that. But if the employer/contractor requires you to work someplace other than your primary location... then I believe that's what you can write off.

For instance... let's say that I worked in DFW and they had me work out of the Houston or Addison location for about a week to help out. Then I could write the mileage off from commuting to those location.

Things may have changed... or I may have totally screwed myself and opened myself up to an audit...

But definately research it and consult your nearest friendly neighborhood tax proessional.

Bob

Airdale · January 28th, 2007, 11:53

For as little money as you make at ATP, I can't imagine you have to pay ANY taxes. When you gross $12k or less, I think the government needs to have pity on you. You won't get any return, but you shouldn't be writing any check to the government. That would be absurd. I could barely pay my bills and loan payments with the ATP salary, let alone put money aside to pay Uncle Sam.

Merlin · February 5th, 2007, 15:25

If ATP is your only source of income for the year, you likely won't have to pay any taxes. BUT, if you are married and filing jointly, look out.

Bob, I'd be careful about trying to write off travel expenses for Arlington to Addison. Those are less than 50 miles and probably not a deductible expense. DFW-IAH or JAX, sure.

Jeremy

Captain_Bob · February 5th, 2007, 16:07

Quote:

Originally Posted by Merlin

Bob, I'd be careful about trying to write off travel expenses for Arlington to Addison. Those are less than 50 miles and probably not a deductible expense. DFW-IAH or JAX, sure.

I concede... I believe you are correct sir. GKY to ADS just feels like 50 miles... (I hate traffic!)

January 23rd, 2007, 10:29	#1
AV8TOR Junior Member Join Date: Feb 2005 Posts: 140	Tax Time Quick question for former instructors that taught with ATP, When you did your taxes with ATP, what did you write off, if anything? I talked with a tax professional yesterday, and asked. I thought you could write off gas, part of cell phone bill. But come to find out I really can't write off any of that. Being that we don't pay taxes, I'm thinking I am going to have to pay taxes this year. The lady I spoke with yesterday said, that if I had to change my phone plan to get more minutes, I could write that off, and if i wanted to write off my truck, I would need to keep a log, like if I make deposits and such. Did anyone else have to pay taxes or were you able to get some $$ back?? Thank

January 23rd, 2007, 11:25	#3
Captain_Bob Old Skool Join Date: Apr 2003 Location: DFW, based in ONT, wishing I was in Maine Posts: 3,905	Re: Tax Time I wrote off the mileage and gas on my car... kept a log and all... but only for a few trips. DFW to JAX when I was hired and required by my employer to start and work in JAX... I commuted back to DFW from JAX a couple of times too. JAX to PHX when I was transferred to the PHX location... I commuted home one time. PHX to DFW when I was transferred back to my home base. All in all.. the mileage and gas was the perfect deduction... even got a bit of money back. I don't think you can write off mileage for your daily commute to work though... I seem to remember that. But if the employer/contractor requires you to work someplace other than your primary location... then I believe that's what you can write off. For instance... let's say that I worked in DFW and they had me work out of the Houston or Addison location for about a week to help out. Then I could write the mileage off from commuting to those location. Things may have changed... or I may have totally screwed myself and opened myself up to an audit... But definately research it and consult your nearest friendly neighborhood tax proessional. Bob __________________ My head is in the clouds and my heart is still in Maine... but my devotion and love belong to my wife and children. Pics!

January 28th, 2007, 11:53	#4
Airdale Old Skool Join Date: May 2005 Location: Dirty Jerzey Posts: 2,109	Re: Tax Time For as little money as you make at ATP, I can't imagine you have to pay ANY taxes. When you gross $12k or less, I think the government needs to have pity on you. You won't get any return, but you shouldn't be writing any check to the government. That would be absurd. I could barely pay my bills and loan payments with the ATP salary, let alone put money aside to pay Uncle Sam.

February 5th, 2007, 15:25	#5
Merlin Junior Member Join Date: Dec 2003 Location: Dallas, TX Posts: 142	Re: Tax Time If ATP is your only source of income for the year, you likely won't have to pay any taxes. BUT, if you are married and filing jointly, look out. Bob, I'd be careful about trying to write off travel expenses for Arlington to Addison. Those are less than 50 miles and probably not a deductible expense. DFW-IAH or JAX, sure. Jeremy __________________ I do what the voices in my wife's head tell me to do.

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