Airplane as a business expense/deduction/write off, whatever?

moparrob66 said:
Yeah, some agencies pay a stipend, others dont. Obviously anything covered by the stipend wouldnt be a deduction.
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Won't matter anyway. It's obviously not charity, so the FAA will consider the deduction to be compensation.
 
Half Fast said:
Interesting.

If I’m renting a plane and the owner gives me a discount because of my stunningly handsome looks, is that compensation? And should the owner’s medical be revoked for poor eyesight?
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The safe bet would be the latter....:):p:D
 
Half Fast said:
Interesting.

If I’m renting a plane and the owner gives me a discount because of my stunningly handsome looks, is that compensation? And should the owner’s medical be revoked for poor eyesight?
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Good question. But irrelevant. The FARs don't prohibit compensation for being good looking. More relevant question: What if the owner gives you a discount on your rental if you'll drop off his daughter at KXYZ?
 
Okay...so private pilots who enjoy an IRS tax deduction are in violation with the FAA, but once I get a Commercial ticket I'm okay with both agencies? What a mess!

I guess I need another 90 hours before we try any of this...
 
Lindberg said:
Good question. But irrelevant. The FARs don't prohibit compensation for being good looking. More relevant question: What if the owner gives you a discount on your rental if you'll drop off his daughter at KXXX?
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Ah, that's different. That would be receiving compensation plus unlawful carriage plus contributing to the delinquency of a minor if she's underage.
 
I do. Maybe its foolish, but I'm more worried about the IRS than the FAA. I'm definitely inclined to do it all by the book, because if anybody will get jammed up for something, its me. I've been audited by the IRS twice already and they are a nightmare to deal with. Watching Trent Palmer's adventures with the FAA...lets say I dont envy him either, but he probably didnt find out at Costco that all the money in his bank was seized until he proved his innocence.
 
Get your commercial, put the plane solely in your wifes name, keep your class 2 medical going, and you can fly her legally in the eyes of the FAA and IRS.
 
Half Fast said:
Ah, that's different. That would be receiving compensation plus unlawful carriage plus contributing to the delinquency of a minor if she's underage.
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And a violation of the Mann Act if they cross state lines..
 
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