Real Answers from Real Pilots

Tax Season - Any way to save money?


(Toby Cannon) #1

Hi All!

Tax Season is upon us and I’m scouring the internet for knowledge about what we, as ATP students, can and cannot deduct or claim as educational costs on our taxes?

I understand we might not necessarily be tax experts here and the advice given should taken with a grain of salt, but I am curious about what has worked for graduated students turned CFI’s and students like myself who are just entering commercial phase. What I have seen so far isn’t very optimistic, since we are not a university the educational deductions available to us might not be there.

What are you thoughts?


#2

Toby,

My thoughts are you should talk to an accountant. While as CFIs we’re paid as independent contractors which does allow you to take certain “business expenses” as deductions, none of us are experts on the subject.

Adam


(Tory) #3

Toby,

I claimed my headset and iPad, but not until I was a CFI.

Tory