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Common Tax Phrases for
Pilots and Flight Attendants
2% Limit
A.G.I. (Adjusted Gross Income)
Above the Line Deductions
Accountable Plan
Actual Cost Meal Deduction
Adequate Records
Alternative Minimum Tax
Below the Line Deductions
CONUS
CPA (Certified Public Accountant)
City-by-City
Commuting Expenses
D.O.T. (Department of Transportation)
Day Trips
Department of State
Displaced
Documentary Evidence
Domicile
Effective Date
Effective Tax Rate
Employee Business Expenses
Enrolled Agent
Expiration Date
General Services Agency
Gross Income
Hours of Service Limits
IRS
IRS Form 1040
IRS Form 2106
IRS Publication 1542
IRS Publication 463
IRS Publication 529
Incidental Expenses
Indefinate Duty
Itemized Tax Deduction
Itenerant
M&IE
Meals
Necessary Expense
Non Taxable Per Diem
Nonaccountable Plan
OCONUS
Ordinary Expense
Per Diem
Per Diem Calculator
Per Diem Deduction
Per Diem Rates
Personal Expense
Prorate
Recordkeeping
Reimbursement
Rest
Schedule A
Seasonal End Date
Seasonal Start Date
Special Per Diem Rates
Standard Deduction
Standard Meal Allowance
Standard Per Diem Rates
Substantiated Expenses
TDY
Tax Attorney
Tax Audit
Tax Bracket
Tax Credit
Tax Deduction
Tax Home
Tax Liability
Tax Preparer
Tax Software
Taxable Income
Taxable Per Diem
Temporary Duty
Transition Period
Transportation Workers
Travel Expenses

Tax Deduction

A tax deduction is an expense incurred by a taxpayer that is subtracted from gross income or adjusted gross income.  If it is subtracted directly from gross income it is an above-the-line tax deduction.  If it is subtracted from adjusted gross income it is a below-the-line tax deduction.  The value of a tax deduction (i.e. reduced tax liability) is dependant on the taxpayer's tax bracket.  The tax bracket along with gross income are use to determine a taxpayer's effective tax rate.  A tax deduction is similar to a tax credit, except a tax credit is paid dollar for dollar.

Airline pilots and flight attendants are eligible for many airline-related tax deductions that get recorded on IRS Form 2106.  The EZPERDIEM.COM Expense Processor helps aviation crewmembers quickly calculate their airline crew related tax deductions.

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