|
Search All EZPerDiem-Related Sites Using the Box Below:
Searches EZPerDiem.com, EZCrewTax.com, AviationTaxGlossary.com, and several other sites in the EZPerDiem Network
If I do not itemize will EZPERDIEM COM help my refund?
No. The per diem deduction is only going to help you if you itemize.
Pilots and flight attendants who carry a mortgage can almost always itemize, though there are many types of expenses that can bring flight crewmembers over the standard deduction threshold.
The employee business expenses that pilots and flight attendants get to write off is one component of the itemized expenses that get summed up on IRS Form 1040. Employee business expenses get summed up on IRS Form 2106.
The M&IE expenses are just one component of the employee business expenses that get calculated on IRS Form 2106. All of the employee business expenses that get entered into Form 2106 can help push a flight crewmember over the standard deduction, but in the end, if you take the standard deduction, the per diem deduction will not lower your tax liability.
Some other expenses that flight crewmembers may have that can take them over the standard deduction include money spent on union dues, health care, state and local taxes, mortgage interest, charitable donations, and tax prep. fees.
| |