Wonder if mileage runs would count if this bill is passed...
Oct 5, 2001 | 11:24 am
#1
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Wonder if mileage runs would count if this bill is passed...
Oct 5, 2001 | 11:50 am
#2
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Why not? the only exception is "Business travel", I don't think that anyone will say that "mileage run" = "Business travel".
My $0.02
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Sagy
My $0.02
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Sagy
Oct 5, 2001 | 11:58 am
#3
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I was just thinking the very same thing myself. I know they say it wouldn't apply
to business travel, but it would cover "vacation or other travel 100 miles or more away from home".
I would imagine the answer is "Yes", but unintentionally so.
Remember that as a tax break/credit, it's ultimately up to the IRS to determine if you've followed the law correctly and allow you to claim it.
Something to think about before you book that RTW...
JD
to business travel, but it would cover "vacation or other travel 100 miles or more away from home".
I would imagine the answer is "Yes", but unintentionally so.
Remember that as a tax break/credit, it's ultimately up to the IRS to determine if you've followed the law correctly and allow you to claim it.
Something to think about before you book that RTW...
JD
Oct 5, 2001 | 12:59 pm
#5
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Jet'Dillo:
I know they say it wouldn't apply
to business travel, but it would cover "vacation or other travel 100 miles or more away from home".
Remember that as a tax break/credit, it's ultimately up to the IRS to determine if you've followed the law correctly and allow you to claim it.</font>
I know they say it wouldn't apply
to business travel, but it would cover "vacation or other travel 100 miles or more away from home".
Remember that as a tax break/credit, it's ultimately up to the IRS to determine if you've followed the law correctly and allow you to claim it.</font>
And business travel was already deductible (to some extent), so all that exclusion does is avoid giving a double deduction.
Oct 5, 2001 | 1:32 pm
#7
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Plato90s:
This is hilarious!!
So not only do we pick up FF miles at an excellent ratio for mileage runs, now Congress will give me a tax credit? Bring it on!</font>
This is hilarious!!
So not only do we pick up FF miles at an excellent ratio for mileage runs, now Congress will give me a tax credit? Bring it on!</font>
Oct 6, 2001 | 11:30 am
#9
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">You might like to consider it as a tax rebate after the $15 billion in federal funds accorded to the airlines </font>
Oct 6, 2001 | 12:42 pm
#10
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Although I would benefit greatly, this is a terrible idea. At this point, we've already blown this year's federal budget surplus. And judging from how air traffic has grown in the past two weeks, I don't think that this stimulus package would do us any good. Even worse, this seems like a gift from the federal government only to those with enough disposable income--in a recession, of all times--to spend $500 on personal vacation travel through the end of the year.
[This message has been edited by bry99 (edited 10-06-2001).]
[This message has been edited by bry99 (edited 10-06-2001).]
Oct 6, 2001 | 3:22 pm
#11
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by bry99:
...Even worse, this seems like a gift from the federal government only to those with enough disposable income--in a recession, of all times--to spend $500 on personal vacation travel through the end of the year.</font>
...Even worse, this seems like a gift from the federal government only to those with enough disposable income--in a recession, of all times--to spend $500 on personal vacation travel through the end of the year.</font>
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Middle_Seat
Oct 6, 2001 | 3:52 pm
#12
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Actually, I believe it's more of a gift to the hotels and airlines, to get us on them to spend some money.
Drive 101 miles from home, stay overnight, help the economy, and get it back at tax time.
Can't beat that.
Drive 101 miles from home, stay overnight, help the economy, and get it back at tax time.
Can't beat that.
Oct 6, 2001 | 7:20 pm
#13
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by bry99:
Although I would benefit greatly, this is a terrible idea. At this point, we've already blown this year's federal budget surplus. And judging from how air traffic has grown in the past two weeks, I don't think that this stimulus package would do us any good. Even worse, this seems like a gift from the federal government only to those with enough disposable income--in a recession, of all times--to spend $500 on personal vacation travel through the end of the year.</font>
Although I would benefit greatly, this is a terrible idea. At this point, we've already blown this year's federal budget surplus. And judging from how air traffic has grown in the past two weeks, I don't think that this stimulus package would do us any good. Even worse, this seems like a gift from the federal government only to those with enough disposable income--in a recession, of all times--to spend $500 on personal vacation travel through the end of the year.</font>
The way you get people back in the air and traveling is to make flying as safe and as convenient as possible again. The tax credit could cost an estimated $10 billion. There has to be a better way to spend $10 billion of taxpayer money. And as bry99 alluded, this is yet another example of a tax credit for the rich.