Flight training tax deductable in the US. | FerrariChat

Flight training tax deductable in the US.

Discussion in 'Aviation Chat' started by EndymionMKII, Sep 11, 2005.

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  1. EndymionMKII

    EndymionMKII Formula Junior

    Aug 14, 2004
    462
    Omaha
    Full Name:
    James
    I heard some where that all flight training after PPL is tax duducable is this true or utter BS?
     
  2. imported_Peter G.

    Nov 28, 2005
    2
    That would be great to know. I'm planning on some training soon when money gets around.
     
  3. plasticpi

    plasticpi Rookie

    Nov 19, 2005
    34
    Mine is, but then again, it's done through a program at a community college, so it's disguised as "tuition." However, I don't see why it still wouldn't count as an educational cost. I'm sure if you talk to an accountant they'll find some way to make it deductible.
     
  4. EndymionMKII

    EndymionMKII Formula Junior

    Aug 14, 2004
    462
    Omaha
    Full Name:
    James
    Understood, will do.
     
  5. 2000YELLOW360

    2000YELLOW360 F1 World Champ

    Jun 5, 2001
    19,800
    Full Name:
    Art
    I would think that flight training after you have the commercial ticket and you are employed in the industry would be deductible. Training to enter into a new employment field is generally not deductible.

    Art
     
  6. imported_mjc123

    Dec 25, 2005
    22
    My question is does advanced flight training in your own airplane allow you to expense that aircraft time, or does it count toward time the plane is used for business for deductibility purposes.
     
  7. MY355

    MY355 Formula Junior

    Feb 4, 2004
    258
    NYC and AZ
    Although I "could" answer I would check w/ a tax lawyer .... The law will change often enough that the 56.00 question for 15 minutes is much better than becoming a red flag and promting an audit :)
     
  8. rfking

    rfking Formula Junior

    Nov 16, 2003
    785
    Italy
    Unless you are an "audit lottery" fan.

    If your aircraft is owned by your business and you are the corporate pilot - OK. Otherwise, don't think about it.
     

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