As a member of a professional flight crew you’ve probably heard other pilots or flight attendants talk about itemized deductions. Or maybe you’ve heard your tax preparer talk about them, and wondered what they are. Well, the answer is simple.
Itemized deductions are various expenses or losses that the IRS allows you to deduct. These items include – Medical and dental expenses, certain state and local taxes, real estate taxes, home mortgage interest, gifts to charities, casualty and theft losses, certain miscellaneous deductions, and most important for professional flight crews, job expenses.
Job expenses include items such as your per diem expenses, uniform costs, medicals, cell phone and Internet, job-hunting, and so on. These expenses can add up to a significant amount and help out professional flight crews maximize their tax returns.
An itemized list of flight crew related tax deductions is listed via this link and can also be easily calculated with the EZPERDIEM.COM website.