IRS Publication 529 contains
the rules and regulations governing miscellaneous tax deductions, many of which
apply to flight crew taxes. IRS Publication
529 is important because many of the unreimbursed
employee
business expenses that can or cannot be deducted are listed with in it.
While the tax deduction list in IRS Publication 529 is somewhat general, it
still contains important guidelines that help taxpaying pilots and flight
attendants determine whether a given expense is tax deductible. For example,
recently wristwatches were included in IRS Publication 529 as an expense that
CANNOT be deducted. Wristwatches were always a borderline
personal expense,
but IRS Publication 529 specifically made wristwatches unallowable deductions.
The wristwatch tax deduction example is a perfect example of how a pilot or
flight attendant should go about determining if an employee business expense is
tax deductible.
For a more detailed list of airline
flight crew tax deductions, the
EZPERDIEM.COM
Articles and the EZPERDIEM.COM Expense ProcessorTM can help
flight crews find them.