Taxes

stuckingfk · August 16th, 2004, 16:09

Do any CFI's here deduct the cost of being a CFI? For example, could I deduct the cost of my headset, gas to/from the airport, charts, IAP's, etc?

The reason I ask, I am a newly employed CFI at UND. I got hired during last week (along with roundout here on JC).

Thanks for your help

FalconCapt · August 16th, 2004, 16:11

[ QUOTE ]
Do any CFI's here deduct the cost of being a CFI? For example, could I deduct the cost of my headset, gas to/from the airport, charts, IAP's, etc?

The reason I ask, I am a newly employed CFI at UND. I got hired during last week (along with roundout here on JC).

Thanks for your help

[/ QUOTE ]

If you are an independant contractor, then yes you may deduct these expenses... If you are an employee, you may not...

How can you tell? Do they take taxes out of your check? Do they pay their half of your SS Tax? If yes, you are an employee, if no, you are an independant contractor...

My guess is if you are working for UND, you are in fact an employee... Sorry...

stuckingfk · August 16th, 2004, 16:27

[ QUOTE ]
[ QUOTE ]
Do any CFI's here deduct the cost of being a CFI? For example, could I deduct the cost of my headset, gas to/from the airport, charts, IAP's, etc?

The reason I ask, I am a newly employed CFI at UND. I got hired during last week (along with roundout here on JC).

Thanks for your help

[/ QUOTE ]

If you are an independant contractor, then yes you may deduct these expenses... If you are an employee, you may not...

How can you tell? Do they take taxes out of your check? Do they pay their half of your SS Tax? If yes, you are an employee, if no, you are an independant contractor...

My guess is if you are working for UND, you are in fact an employee... Sorry...

[/ QUOTE ]

Thanks for the input, yeah we are employees so I am SOL. I was afraid that I couldn't but I thought I'd ask to make sure.

Minnesota_Flyer · August 16th, 2004, 17:58

Hate to step on FalconCapt's toes here, but his advice is not quite accurate. There are a variety of employment-related expenses which, if not reimbursed by your employer, can be deducted on your taxes (Schedule A, I think). For example, because membership in the state bar is a requirement for me to work as a lawyer, I could deduct bar membership expenses if my employer did not reimburse me for them. Similarly, my wife can deduct her union dues because union membership is required for her employment. Sadly, deductions for unreimbursed business expenses such as these are limited to those expenses which exceed 2% (I think) of your AGI, which put them beyond my reach most years.

The best place to look for answers is the IRS website which has some (surprisingly) helpful FAQs that may help you. Also, I'm reasonably certain that there is a separate publication describing employment-related expenditures which are and are not deductible.

Incidentally, ordinary commuting expenses between your home and your ordinary place of work is NEVER deductible, regardless of whether you are an employee or independent contractor.

MF

FalconCapt · August 16th, 2004, 18:14

[ QUOTE ]
Hate to step on FalconCapt's toes here, but his advice is not quite accurate. There are a variety of employment-related expenses which, if not reimbursed by your employer, can be deducted on your taxes (Schedule A, I think). For example, because membership in the state bar is a requirement for me to work as a lawyer, I could deduct bar membership expenses if my employer did not reimburse me for them. Similarly, my wife can deduct her union dues because union membership is required for her employment. Sadly, deductions for unreimbursed business expenses such as these are limited to those expenses which exceed 2% (I think) of your AGI, which put them beyond my reach most years.

[/ QUOTE ]

Very true... But expenses he mentioned such as gas to drive to work and such are not reimbursable... The only possible reimbursable expenses for a CFI (perhaps FAA Medical, etc...) would typically not add up to more than 2% of his AGI...

I simplified my answer in the interest of brevity, but you are 100% correct...

UAL747400 · August 16th, 2004, 20:39

Sorry to get off topic, but I was just wondering how you got that job. I'm hoping to do the same thing. I'm not 100% expecting to do that but just hoping for the possibility. A little extra flight time couldn't hurt.

Tom

Doug Taylor · August 16th, 2004, 20:41

I deduct my medical (before my employer reimbursed me for it) any/all uniform items (even my uniform shoes), sunglasses, headsets, union dues, and a few other things.

Completely legal and accountant-approved!

Some guys on reserve will write off cellular telephone service.

stuckingfk · August 16th, 2004, 20:47

[ QUOTE ]
Sorry to get off topic, but I was just wondering how you got that job. I'm hoping to do the same thing. I'm not 100% expecting to do that but just hoping for the possibility. A little extra flight time couldn't hurt.

Tom

[/ QUOTE ]

If you were talking to me, I just applied and then took the CFI test they administer during the 1st day. If you do well on that, you get asked to come back for an interview. If the interview went well and you are talked about well by the professors and hiring people, you are given a position of employment. After that, there is a simulator ride. If you pass that, next is a standardization ride in the warrior. If all goes well in between the two, you keep your job and start new hire training at a specified time.

It was a 4 day process for me so I didn't get much sleep that week, but it was well worth it.

Ophir · August 16th, 2004, 21:03

You need to exceed what is called "Standard Deductions" to itemize (or actually deduct anything). The goverment won't allow any Joe to deduct. You must first have what I believe to be $5000 in deductions to itemize deductions. For most people this is your mortgage interest.

stuckingfk · August 16th, 2004, 21:28

[ QUOTE ]
You need to exceed what is called "Standard Deductions" to itemize (or actually deduct anything). The goverment won't allow any Joe to deduct. You must first have what I believe to be $5000 in deductions to itemize deductions. For most people this is your mortgage interest.

[/ QUOTE ]

My mom was saying something about a certain dollar amount, but she wasn't sure of the amount.

I don't think it is possible for me (I pay rent to an apartment), so the only things I can think of are a headset (just bought the 10-13X today), shirts, charts, but it won't reach $5,000.

UAL747400 · August 16th, 2004, 21:40

Unless you go buy a bose headset and some random ridiculously expensive stuff for the heck of it.

Tom

stuckingfk · August 16th, 2004, 21:51

[ QUOTE ]
Unless you go buy a bose headset and some random ridiculously expensive stuff for the heck of it.

Tom

[/ QUOTE ]

Well I did spend $550 on the DC's. But who knows, I was looking at the FAQ section of the IRS website and found some interesting stuff. From looking at it, I am allowed to deduct certain things but cannon exceed 2% of my annual gross income. That shouldn't be a problem being a CFI, but maybe I am missing something.

For everyone who wants to look at it, click here.

Any more input?

Thanks

Aussie · August 16th, 2004, 23:34

Sorry to veer slightly off topic, but what are the taxes you pay in the US?
What is your highest tax bracket? In oz, if you earn over 60K a yr, you pay a hefty 48.5%tax!!!!

Similar in the US?

CHeers

Minnesota_Flyer · August 16th, 2004, 23:37

[ QUOTE ]
Well I did spend $550 on the DC's. But who knows, I was looking at the FAQ section of the IRS website and found some interesting stuff. From looking at it, I am allowed to deduct certain things but cannon exceed 2% of my annual gross income. That shouldn't be a problem being a CFI, but maybe I am missing something.

For everyone who wants to look at it, click here.

Any more input?

Thanks

[/ QUOTE ]

It's actually the other way around -- you can deduct misc. business expenses only to the extent that they EXCEED 2% of your AGI. As an example, assume your annual AGI while you are flight instructing is $10,000 (hypothetically speaking, of course), and you spend $500 on a pair of DCs for use while flight instructing (I'm assuming that could be deductible, although I don't know that for sure). In that case you could deduct only $300 -- the amount by which your business expense execeeded 2% of your AGI (10,000 * .02 = $200).

I'm sure that's clear as mud. [img]/ubbthreads/images/graemlins/insane.gif[/img]

And the other posters are correct, you have to choose to take either your standard personal deduction or itemize. If your itemized deductions do not exceed the standard personal deduction (~$5,500 for a single), then it makes no sense to itemize.

MF

stuckingfk · August 16th, 2004, 23:40

Thanks MF,

Some of this is really confusing, but hey, that is what the government is for.

Hopefully I'll be making more than $10K this year.

Minnesota_Flyer · August 16th, 2004, 23:41

[ QUOTE ]
Sorry to veer slightly off topic, but what are the taxes you pay in the US?
What is your highest tax bracket? In oz, if you earn over 60K a yr, you pay a hefty 48.5%tax!!!!

Similar in the US?

CHeers

[/ QUOTE ]

It's hard to compare precisely. The highest U.S. federal tax bracket currently is 35% (I think), but there also are state income taxes which can range from 0% to 12% or more. Plus, locality payroll taxes in some major cities, as well as state and local property and sales taxes. The joys of a federalist system!

MF

mtsu_av8er · August 16th, 2004, 23:49

I'm a Private Contractor, and I keep reciepts for everything. Gas to and from the airport, uniform shirts, charts, headsets (when I get a new pair...), training aids...you name it.

FalconCapt · August 17th, 2004, 00:14

[ QUOTE ]
I'm a Private Contractor, and I keep reciepts for everything. Gas to and from the airport, uniform shirts, charts, headsets (when I get a new pair...), training aids...you name it.

[/ QUOTE ]

THAT is the key, Private Contractor...

AngelFuree · August 17th, 2004, 01:03

Hey Lucas, you know what this means!! [img]/ubbthreads/images/graemlins/grin.gif[/img]

[ QUOTE ]
My university required each incoming freshman to come to school with their own computer. Is there any way to deduct the cost of the computer from my tax liability?

The cost of a personal computer is generally a personal expense that is not deductible. However, if the school bills everyone, as a condition of attendance or enrollment, for proprietary computer devices and/or software available no where else, then this may qualify as an expense towards either the Lifetime Learning Credit or Hope Credit. For more information, refer to Publication 970, Tax Benefits for Education.

[/ QUOTE ]
LOL

stuckingfk · August 17th, 2004, 01:24

[ QUOTE ]
Hey Lucas, you know what this means!! [img]/ubbthreads/images/graemlins/grin.gif[/img]

[ QUOTE ]
My university required each incoming freshman to come to school with their own computer. Is there any way to deduct the cost of the computer from my tax liability?

The cost of a personal computer is generally a personal expense that is not deductible. However, if the school bills everyone, as a condition of attendance or enrollment, for proprietary computer devices and/or software available no where else, then this may qualify as an expense towards either the Lifetime Learning Credit or Hope Credit. For more information, refer to Publication 970, Tax Benefits for Education.

[/ QUOTE ]
LOL

[/ QUOTE ]

Yep, chock up another $700 in deductions!!

You get done with 102 yet? How did it go, you doing 221 this fall and if you are, who is your instructor?

Good luck, and I'll probably see you out there, I'll hopefully have a 221 student this fall.

UAL747400 · August 17th, 2004, 01:37

[ QUOTE ]
Yep, chock up another $700 in deductions!!

You get done with 102 yet? How did it go, you doing 221 this fall and if you are, who is your instructor?

Good luck, and I'll probably see you out there, I'll hopefully have a 221 student this fall.

[/ QUOTE ]

Isn't it 900 dollars. Or am I misunderstanding you. I wish I could skip to 221 an 222 since I already have my ppl. 3000 dollars is a lot to throw at something I already know.

Tom

stuckingfk · August 17th, 2004, 01:49

[ QUOTE ]
[ QUOTE ]
Yep, chock up another $700 in deductions!!

You get done with 102 yet? How did it go, you doing 221 this fall and if you are, who is your instructor?

Good luck, and I'll probably see you out there, I'll hopefully have a 221 student this fall.

[/ QUOTE ]

Isn't it 900 dollars. Or am I misunderstanding you. I wish I could skip to 221 an 222 since I already have my ppl. 3000 dollars is a lot to throw at something I already know.

Tom

[/ QUOTE ]

Is that what the computer is now, I don't even know. If it is $450 a semester, then yes, nine hundy!!

You can't skip 221 and 222, that is our instrument course. And I guarantee you will have trouble flying here during 102 since you are used to a whole different ball game somewhere else. Yes, it sucks that you have to spend that money, but it is required.

One thing I learned while going here, don't bitch and learn to take it places you don't want it. No matter what you do here, things will be done their way. The sooner you realize that, the better off you will be.

UAL747400 · August 17th, 2004, 01:57

Yeah its 900 a year now. It's prett nice. If it had a decent video card it would be a damn good gaming computer.

I ment skip up to 221 and 222. I'm expecting problems starting off as I've taken way to many of my freinds up and have gotten a little lazy. I just dont think it will take 14 lessons to fix. I guess I'll just have to wait and see.

I'm throwing evey thread off topic. Or you guys are encouraging me to. I just have a lot to say tonight I guess.

Tom

AngelFuree · August 17th, 2004, 02:57

Yeah man, the computers are now $450. Gayest thing ever.

And no man, it sucks...I haven't finished 102 yet. I left ND because I got tired of waiting for a stage examiner for my 34.

Hopefully, I'll get the e-mail sometime soon and will contact him/her so I could probably get my stage 34 done ASAP once I'm over there.
(I'm going back this Saturday)

Oh, and not sure if I've said this already, but many congrats on the job.

Later man. =)

AngelFuree · August 17th, 2004, 03:01

Tom, are you going to UND this fall or next year?
(I'm real sorry if I've forgotten. I'll try remembering this time [img]/ubbthreads/images/graemlins/wink.gif[/img] )
Will be looking forward to seeing you.

August 16th, 2004, 16:09	#1
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Taxes Do any CFI's here deduct the cost of being a CFI? For example, could I deduct the cost of my headset, gas to/from the airport, charts, IAP's, etc? The reason I ask, I am a newly employed CFI at UND. I got hired during last week (along with roundout here on JC). Thanks for your help

August 16th, 2004, 16:11	#2
FalconCapt Banned Join Date: Nov 2003 Location: USA Posts: 489	Re: Taxes [ QUOTE ] Do any CFI's here deduct the cost of being a CFI? For example, could I deduct the cost of my headset, gas to/from the airport, charts, IAP's, etc? The reason I ask, I am a newly employed CFI at UND. I got hired during last week (along with roundout here on JC). Thanks for your help [/ QUOTE ] If you are an independant contractor, then yes you may deduct these expenses... If you are an employee, you may not... How can you tell? Do they take taxes out of your check? Do they pay their half of your SS Tax? If yes, you are an employee, if no, you are an independant contractor... My guess is if you are working for UND, you are in fact an employee... Sorry...

August 16th, 2004, 16:27	#3
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Re: Taxes [ QUOTE ] [ QUOTE ] Do any CFI's here deduct the cost of being a CFI? For example, could I deduct the cost of my headset, gas to/from the airport, charts, IAP's, etc? The reason I ask, I am a newly employed CFI at UND. I got hired during last week (along with roundout here on JC). Thanks for your help [/ QUOTE ] If you are an independant contractor, then yes you may deduct these expenses... If you are an employee, you may not... How can you tell? Do they take taxes out of your check? Do they pay their half of your SS Tax? If yes, you are an employee, if no, you are an independant contractor... My guess is if you are working for UND, you are in fact an employee... Sorry... [/ QUOTE ] Thanks for the input, yeah we are employees so I am SOL. I was afraid that I couldn't but I thought I'd ask to make sure.

August 16th, 2004, 17:58	#4
Minnesota_Flyer Old Skool Join Date: Mar 2004 Location: the Twin Cities of Minneapolis and St. Paul Posts: 1,895	Re: Taxes Hate to step on FalconCapt's toes here, but his advice is not quite accurate. There are a variety of employment-related expenses which, if not reimbursed by your employer, can be deducted on your taxes (Schedule A, I think). For example, because membership in the state bar is a requirement for me to work as a lawyer, I could deduct bar membership expenses if my employer did not reimburse me for them. Similarly, my wife can deduct her union dues because union membership is required for her employment. Sadly, deductions for unreimbursed business expenses such as these are limited to those expenses which exceed 2% (I think) of your AGI, which put them beyond my reach most years. The best place to look for answers is the IRS website which has some (surprisingly) helpful FAQs that may help you. Also, I'm reasonably certain that there is a separate publication describing employment-related expenditures which are and are not deductible. Incidentally, ordinary commuting expenses between your home and your ordinary place of work is NEVER deductible, regardless of whether you are an employee or independent contractor. MF

August 16th, 2004, 18:14	#5
FalconCapt Banned Join Date: Nov 2003 Location: USA Posts: 489	Re: Taxes [ QUOTE ] Hate to step on FalconCapt's toes here, but his advice is not quite accurate. There are a variety of employment-related expenses which, if not reimbursed by your employer, can be deducted on your taxes (Schedule A, I think). For example, because membership in the state bar is a requirement for me to work as a lawyer, I could deduct bar membership expenses if my employer did not reimburse me for them. Similarly, my wife can deduct her union dues because union membership is required for her employment. Sadly, deductions for unreimbursed business expenses such as these are limited to those expenses which exceed 2% (I think) of your AGI, which put them beyond my reach most years. [/ QUOTE ] Very true... But expenses he mentioned such as gas to drive to work and such are not reimbursable... The only possible reimbursable expenses for a CFI (perhaps FAA Medical, etc...) would typically not add up to more than 2% of his AGI... I simplified my answer in the interest of brevity, but you are 100% correct...

August 16th, 2004, 20:39	#6
UAL747400 Old Skool Join Date: Sep 2002 Location: Grand Forks, ND (UND)/ Davenport, IA Posts: 2,204	Re: Taxes Sorry to get off topic, but I was just wondering how you got that job. I'm hoping to do the same thing. I'm not 100% expecting to do that but just hoping for the possibility. A little extra flight time couldn't hurt. Tom

August 16th, 2004, 20:41	#7
Doug Taylor Agent Smith Join Date: Dec 1969 Location: KSDL Posts: 39,746 Blog Entries: 1	Re: Taxes I deduct my medical (before my employer reimbursed me for it) any/all uniform items (even my uniform shoes), sunglasses, headsets, union dues, and a few other things. Completely legal and accountant-approved! Some guys on reserve will write off cellular telephone service.

August 16th, 2004, 20:47	#8
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Re: Taxes [ QUOTE ] Sorry to get off topic, but I was just wondering how you got that job. I'm hoping to do the same thing. I'm not 100% expecting to do that but just hoping for the possibility. A little extra flight time couldn't hurt. Tom [/ QUOTE ] If you were talking to me, I just applied and then took the CFI test they administer during the 1st day. If you do well on that, you get asked to come back for an interview. If the interview went well and you are talked about well by the professors and hiring people, you are given a position of employment. After that, there is a simulator ride. If you pass that, next is a standardization ride in the warrior. If all goes well in between the two, you keep your job and start new hire training at a specified time. It was a 4 day process for me so I didn't get much sleep that week, but it was well worth it.

August 16th, 2004, 21:03	#9
Ophir Senior Member Join Date: Mar 2002 Location: was Ophir, CO, now in SLC! Posts: 1,477	Re: Taxes You need to exceed what is called "Standard Deductions" to itemize (or actually deduct anything). The goverment won't allow any Joe to deduct. You must first have what I believe to be $5000 in deductions to itemize deductions. For most people this is your mortgage interest.

August 16th, 2004, 21:28	#10
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Re: Taxes [ QUOTE ] You need to exceed what is called "Standard Deductions" to itemize (or actually deduct anything). The goverment won't allow any Joe to deduct. You must first have what I believe to be $5000 in deductions to itemize deductions. For most people this is your mortgage interest. [/ QUOTE ] My mom was saying something about a certain dollar amount, but she wasn't sure of the amount. I don't think it is possible for me (I pay rent to an apartment), so the only things I can think of are a headset (just bought the 10-13X today), shirts, charts, but it won't reach $5,000.

August 16th, 2004, 21:40	#11
UAL747400 Old Skool Join Date: Sep 2002 Location: Grand Forks, ND (UND)/ Davenport, IA Posts: 2,204	Re: Taxes Unless you go buy a bose headset and some random ridiculously expensive stuff for the heck of it. Tom

August 16th, 2004, 21:51	#12
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Re: Taxes [ QUOTE ] Unless you go buy a bose headset and some random ridiculously expensive stuff for the heck of it. Tom [/ QUOTE ] Well I did spend $550 on the DC's. But who knows, I was looking at the FAQ section of the IRS website and found some interesting stuff. From looking at it, I am allowed to deduct certain things but cannon exceed 2% of my annual gross income. That shouldn't be a problem being a CFI, but maybe I am missing something. For everyone who wants to look at it, click here. Any more input? Thanks

August 16th, 2004, 23:34	#13
Aussie Senior Member Join Date: Mar 2004 Location: Australia, Sydney Posts: 301	Re: Taxes Sorry to veer slightly off topic, but what are the taxes you pay in the US? What is your highest tax bracket? In oz, if you earn over 60K a yr, you pay a hefty 48.5%tax!!!! Similar in the US? CHeers

August 16th, 2004, 23:37	#14
Minnesota_Flyer Old Skool Join Date: Mar 2004 Location: the Twin Cities of Minneapolis and St. Paul Posts: 1,895	Re: Taxes [ QUOTE ] Well I did spend $550 on the DC's. But who knows, I was looking at the FAQ section of the IRS website and found some interesting stuff. From looking at it, I am allowed to deduct certain things but cannon exceed 2% of my annual gross income. That shouldn't be a problem being a CFI, but maybe I am missing something. For everyone who wants to look at it, click here. Any more input? Thanks [/ QUOTE ] It's actually the other way around -- you can deduct misc. business expenses only to the extent that they EXCEED 2% of your AGI. As an example, assume your annual AGI while you are flight instructing is $10,000 (hypothetically speaking, of course), and you spend $500 on a pair of DCs for use while flight instructing (I'm assuming that could be deductible, although I don't know that for sure). In that case you could deduct only $300 -- the amount by which your business expense execeeded 2% of your AGI (10,000 * .02 = $200). I'm sure that's clear as mud. [img]/ubbthreads/images/graemlins/insane.gif[/img] And the other posters are correct, you have to choose to take either your standard personal deduction or itemize. If your itemized deductions do not exceed the standard personal deduction (~$5,500 for a single), then it makes no sense to itemize. MF

August 16th, 2004, 23:40	#15
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Re: Taxes Thanks MF, Some of this is really confusing, but hey, that is what the government is for. Hopefully I'll be making more than $10K this year.

August 16th, 2004, 23:41	#16
Minnesota_Flyer Old Skool Join Date: Mar 2004 Location: the Twin Cities of Minneapolis and St. Paul Posts: 1,895	Re: Taxes [ QUOTE ] Sorry to veer slightly off topic, but what are the taxes you pay in the US? What is your highest tax bracket? In oz, if you earn over 60K a yr, you pay a hefty 48.5%tax!!!! Similar in the US? CHeers [/ QUOTE ] It's hard to compare precisely. The highest U.S. federal tax bracket currently is 35% (I think), but there also are state income taxes which can range from 0% to 12% or more. Plus, locality payroll taxes in some major cities, as well as state and local property and sales taxes. The joys of a federalist system! MF

August 16th, 2004, 23:49	#17
mtsu_av8er Old Skool Join Date: Dec 2002 Location: Utopia Posts: 12,403	Re: Taxes I'm a Private Contractor, and I keep reciepts for everything. Gas to and from the airport, uniform shirts, charts, headsets (when I get a new pair...), training aids...you name it.

August 17th, 2004, 00:14	#18
FalconCapt Banned Join Date: Nov 2003 Location: USA Posts: 489	Re: Taxes [ QUOTE ] *I'm a Private Contractor*, and I keep reciepts for everything. Gas to and from the airport, uniform shirts, charts, headsets (when I get a new pair...), training aids...you name it. [/ QUOTE ] THAT is the key, Private Contractor...

August 17th, 2004, 01:03	#19
AngelFuree Old Skool Join Date: Mar 2004 Location: G-Forks, ND/ NYC Posts: 3,084	Re: Taxes Hey Lucas, you know what this means!! [img]/ubbthreads/images/graemlins/grin.gif[/img] [ QUOTE ] My university required each incoming freshman to come to school with their own computer. Is there any way to deduct the cost of the computer from my tax liability? The cost of a personal computer is generally a personal expense that is not deductible. However, if the school bills everyone, as a condition of attendance or enrollment, for proprietary computer devices and/or software available no where else, then this may qualify as an expense towards either the Lifetime Learning Credit or Hope Credit. For more information, refer to Publication 970, Tax Benefits for Education. [/ QUOTE ] LOL

August 17th, 2004, 01:24	#20
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Re: Taxes [ QUOTE ] Hey Lucas, you know what this means!! [img]/ubbthreads/images/graemlins/grin.gif[/img] [ QUOTE ] My university required each incoming freshman to come to school with their own computer. Is there any way to deduct the cost of the computer from my tax liability? The cost of a personal computer is generally a personal expense that is not deductible. However, if the school bills everyone, as a condition of attendance or enrollment, for proprietary computer devices and/or software available no where else, then this may qualify as an expense towards either the Lifetime Learning Credit or Hope Credit. For more information, refer to Publication 970, Tax Benefits for Education. [/ QUOTE ] LOL [/ QUOTE ] Yep, chock up another $700 in deductions!! You get done with 102 yet? How did it go, you doing 221 this fall and if you are, who is your instructor? Good luck, and I'll probably see you out there, I'll hopefully have a 221 student this fall.

August 17th, 2004, 01:37	#21
UAL747400 Old Skool Join Date: Sep 2002 Location: Grand Forks, ND (UND)/ Davenport, IA Posts: 2,204	Re: Taxes [ QUOTE ] Yep, chock up another $700 in deductions!! You get done with 102 yet? How did it go, you doing 221 this fall and if you are, who is your instructor? Good luck, and I'll probably see you out there, I'll hopefully have a 221 student this fall. [/ QUOTE ] Isn't it 900 dollars. Or am I misunderstanding you. I wish I could skip to 221 an 222 since I already have my ppl. 3000 dollars is a lot to throw at something I already know. Tom

August 17th, 2004, 01:49	#22
stuckingfk Old Skool Join Date: Oct 2000 Location: El Forko Grande Posts: 2,547	Re: Taxes [ QUOTE ] [ QUOTE ] Yep, chock up another $700 in deductions!! You get done with 102 yet? How did it go, you doing 221 this fall and if you are, who is your instructor? Good luck, and I'll probably see you out there, I'll hopefully have a 221 student this fall. [/ QUOTE ] Isn't it 900 dollars. Or am I misunderstanding you. I wish I could skip to 221 an 222 since I already have my ppl. 3000 dollars is a lot to throw at something I already know. Tom [/ QUOTE ] Is that what the computer is now, I don't even know. If it is $450 a semester, then yes, nine hundy!! You can't skip 221 and 222, that is our instrument course. And I guarantee you will have trouble flying here during 102 since you are used to a whole different ball game somewhere else. Yes, it sucks that you have to spend that money, but it is required. One thing I learned while going here, don't bitch and learn to take it places you don't want it. No matter what you do here, things will be done their way. The sooner you realize that, the better off you will be.

August 17th, 2004, 01:57	#23
UAL747400 Old Skool Join Date: Sep 2002 Location: Grand Forks, ND (UND)/ Davenport, IA Posts: 2,204	Re: Taxes Yeah its 900 a year now. It's prett nice. If it had a decent video card it would be a damn good gaming computer. I ment skip up to 221 and 222. I'm expecting problems starting off as I've taken way to many of my freinds up and have gotten a little lazy. I just dont think it will take 14 lessons to fix. I guess I'll just have to wait and see. I'm throwing evey thread off topic. Or you guys are encouraging me to. I just have a lot to say tonight I guess. Tom

August 17th, 2004, 02:57	#24
AngelFuree Old Skool Join Date: Mar 2004 Location: G-Forks, ND/ NYC Posts: 3,084	Re: Taxes Yeah man, the computers are now $450. Gayest thing ever. And no man, it sucks...I haven't finished 102 yet. I left ND because I got tired of waiting for a stage examiner for my 34. Hopefully, I'll get the e-mail sometime soon and will contact him/her so I could probably get my stage 34 done ASAP once I'm over there. (I'm going back this Saturday) Oh, and not sure if I've said this already, but many congrats on the job. Later man. =)

August 17th, 2004, 03:01	#25
AngelFuree Old Skool Join Date: Mar 2004 Location: G-Forks, ND/ NYC Posts: 3,084	Re: Taxes Tom, are you going to UND this fall or next year? (I'm real sorry if I've forgotten. I'll try remembering this time [img]/ubbthreads/images/graemlins/wink.gif[/img] ) Will be looking forward to seeing you.

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