Tax time

[ QUOTE ]
Now that you have read my rambles that probably don't make sense, but I just think that the SR 22 could make a home here in ND if charter companies would pick them up and market it right. I would love to be that guy.

[/ QUOTE ]

Makes perfect sense to me. Somehow turning aircraft ownership into a business would be ideal. Even if you just broke even on the cost of the aircraft, but got to fly it yourself on occasion for free would be great! This is assuming you have other income to live on...

That's really my ultimate goal for the future... own some type of aviation related business that would give me the ability to fly as often as I chose. Perhaps someday when the aviation industry perks up...and I have a venture capitalist ready do sign.
wink.gif
 
Nah, has nothing to do with a company or flight instructing. I just got my instrument, but this is what I found out in my reading. Starting from 2002-2005, you can deduct expenses up to $3,000 for tution and fees required for enrollment or attendance at an eligible college, university, or vocational school. Not available for single taxpayers w/ AGI of more than $65,000 or married more than $130,000 and you have to file a 1040, not a 1040EZ. I'm guessing that I would probably go over the $3,000 w/o flight training (tution, books, etc), and if not, I'm pretty sure I could deduct Jepp books, etc.
 
[ QUOTE ]
Nah, has nothing to do with a company or flight instructing. I just got my instrument, but this is what I found out in my reading. Starting from 2002-2005, you can deduct expenses up to $3,000 for tution and fees required for enrollment or attendance at an eligible college, university, or vocational school. Not available for single taxpayers w/ AGI of more than $65,000 or married more than $130,000 and you have to file a 1040, not a 1040EZ. I'm guessing that I would probably go over the $3,000 w/o flight training (tution, books, etc), and if not, I'm pretty sure I could deduct Jepp books, etc.

[/ QUOTE ]

Awesome!

That's good to know. Learn something new everyday... err night...
smile.gif
 
Back
Top