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Thread: How to expense general aviation costs

  1. #1

    How to expense general aviation costs

    My office is about 200 road miles from home. It is 125nm by air, which
    gives you some idea of how twisty the mountain roads are between here
    and work. Luckily I only go to the office every 2 months or so.

    Some particulars: The one rental plane around here is a 172 that I can
    have for the low, low cost of $120/hr, plus $450 to join the club. I do
    not hold a commercial rating on my pilot's certificate.

    I would love to be able to rent the local plane and fly down to the
    office, as I used to do with my own plane when I had one. However, if I
    drive myself I can expense the cost of the vehicle at blahblah cents per
    mile, where blahblah is the current IRS rate ($0.45?). So far as I
    know, if I rent a plane and fly myself down to the office (solo), I can
    not legally relieve the cost AT ALL except by claiming a travel
    deduction on my income tax.

    The cost of driving myself is about $180 (200 miles at 45c/mi), but the
    office pays for it. I estimate the cost of one trip (3 hrs) in the 172
    as about $360, and I pay for it.

    Any ideas?

    thanks



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  2. #2

    How to expense general aviation costs

    Hello Jeffrey,

    While I have as yet had no use for it, I have in the
    past seen people referred to this site for expense &
    rate information re travels:

    http://www.dtic.mil/perdiem/faqpovpast.html

    Gerald



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  3. #3

    How to expense general aviation costs

    Jefro,

    Go to the AOPA site and type "tax" in the search box.

    I think the 8th item is the AOPA guide to taxes on aircraft. I
    think that will give you some useful info.

    Cloyd
    President, BAC

    --- In musketeermail@yahoogroups.com, Jeffrey Osier-Mixon
    <jefro@j...> wrote:
    > My office is about 200 road miles from home. It is 125nm by air,
    which
    > gives you some idea of how twisty the mountain roads are between
    here
    > and work. Luckily I only go to the office every 2 months or so.
    >
    > Some particulars: The one rental plane around here is a 172 that
    I can
    > have for the low, low cost of $120/hr, plus $450 to join the
    club. I do
    > not hold a commercial rating on my pilot's certificate.
    >
    > I would love to be able to rent the local plane and fly down to
    the
    > office, as I used to do with my own plane when I had one.
    However, if I
    > drive myself I can expense the cost of the vehicle at blahblah
    cents per
    > mile, where blahblah is the current IRS rate ($0.45?). So far as
    I
    > know, if I rent a plane and fly myself down to the office (solo),
    I can
    > not legally relieve the cost AT ALL except by claiming a travel
    > deduction on my income tax.
    >
    > The cost of driving myself is about $180 (200 miles at 45c/mi),
    but the
    > office pays for it. I estimate the cost of one trip (3 hrs) in
    the 172
    > as about $360, and I pay for it.
    >
    > Any ideas?
    >
    > thanks




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  4. #4

    How to expense general aviation costs

    Hello Jeff: Not sure if this is helpful but here is what my scenario has
    been--

    First you'll see that on the GSA website www.gsa.gov under: Feaured
    topics, POV mileage reimbursment rates
    an airplane reimbursment rate is $1.07 per mile, own car is 40.5 cents
    per mile for own car, and 30.5 cents for motorcycle..
    I believe the IRS also uses these figures along with govt empoyee travel
    allowances.

    My office (FAA ATO-Acquisitions) will sign off on my travel orders for use
    of my own aircraft if I demonstrate it makes reasonable sense cost wise as
    opposed to my car or a trip using the commercial airlines. (I am eligible
    to buy govt refundable ticket which is usually among most costly)

    They will always approve to reimburse me for flying up to what it would
    have cost me to drive. In your case at least $180.
    And also If it is no more than flying commercially.
    There are times when I can demonstrate a time savings/value factor by
    flying myself and therefore getting more work done, or being able to make
    it back sooner and/or not charge another overnight stay. Very likley in
    your case!

    This is a discretionary judgment approval by my supervisor, which usually
    if it's only $100 or so more will get approved.

    Your employer , which I'll assume is not the Federal Govt may have their
    own Insurance stipulations such as if they will cover
    an employee injured (workmans comp issue ) or a fatality (Company
    Insurance) while on official travel duty.

    Good luck,

    Steve Bobby 6708N Annapolis MD





    Jeffrey
    Osier-Mixon
    <jefro@jefro.net> To
    Mail Musketeer
    Sent by: <musketeermail@yahoogroups.com>
    musketeermail@yah cc
    oogroups.com
    Subject
    [musketeermail] How to expense
    05/19/2005 04:35 general aviation costs
    PM









    My office is about 200 road miles from home. It is 125nm by air, which
    gives you some idea of how twisty the mountain roads are between here
    and work. Luckily I only go to the office every 2 months or so.

    Some particulars: The one rental plane around here is a 172 that I can
    have for the low, low cost of $120/hr, plus $450 to join the club. I do
    not hold a commercial rating on my pilot's certificate.

    I would love to be able to rent the local plane and fly down to the
    office, as I used to do with my own plane when I had one. However, if I
    drive myself I can expense the cost of the vehicle at blahblah cents per
    mile, where blahblah is the current IRS rate ($0.45?). So far as I
    know, if I rent a plane and fly myself down to the office (solo), I can
    not legally relieve the cost AT ALL except by claiming a travel
    deduction on my income tax.

    The cost of driving myself is about $180 (200 miles at 45c/mi), but the
    office pays for it. I estimate the cost of one trip (3 hrs) in the 172
    as about $360, and I pay for it.

    Any ideas?

    thanks




    Join BAC today and be a part of the ONLY Type Club for the Musketeer
    series!

    www.beechaeroclub.org


    Yahoo! Groups Links










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    --------------------------------------------------------------------~->

    Join BAC today and be a part of the ONLY Type Club for the Musketeer series!

    www.beechaeroclub.org


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    <*> To visit your group on the web, go to:
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