Higher living costs hurting the foundations?

[AirDOGGe]

Re: Higher living costs hurting the foundations?

...Anyway, not to drag this off topic.. oh yea, that was the topic.. My point is only that there are folks who still can spend (wish I was one of them )

This is so true, but:

There aren't as many around as there were last year,...

...and...

...many of those who are still doing good or better are being a little more frugal with spending and setting aside more of their earnings, JUST IN CASE the economy keeps sinking deeper and starts catching up with them too. I have yet to see the bottom of this depression/recession myself (The valley lost another 5000 jobs last month alone).

But if you do have the desire AND the available funds, please get out there and take a ride of a lifetime. You'll help yourself and the warbird owners at the same time. I wish I could go too, Wayne.

[Plane Nuts]

Re: Higher living costs hurting the foundations?

If you need an excuse, this is it. Collings Foundation is a non-profit orginization, so when you buy a ride you can write it off your taxes. I did it!

[Leo]

Re: Higher living costs hurting the foundations?

Unfortunately my fortunes are tied to the construction industry. No build, no need for design, no work for Leo. It has actually been worse before (in this industry) and it will get better someday. Maybe if they stopped messing with it...
A few years ago my wife sent me to get a ride in the Collins B-17 when it was here in Reno. Unfortunately I could not get off that day, and the next I was sick.
Now I have the time but not the money. Ironic, huh?

[dvddude]

Re: Higher living costs hurting the foundations?

If you need an excuse, this is it. Collings Foundation is a non-profit orginization, so when you buy a ride you can write it off your taxes. I did it!

Oh, great point, I totally forgot about that! Is there a limit on how much you can deduct from your taxes? In other words, if I spent many, many thousands on warbird rides, could I deduct it all?

Another question, along the same lines. I know that you can buy flight training with the Collings group. If I wanted to, let's say, buy flight training and get totally checked out in their dual control P-51C, would all of it be tax deductible, even though it's actually getting a type rating? I know it would be very expensive - say what, about $ 50,000 or something like that?

So, in other words, is flight training also tax-deductible or would it have to be under the guise of a "flight experience" or "member flight" or whatever the term of the day is that they call it?

[Plane Nuts]

Re: Higher living costs hurting the foundations?

Your "Flight Experience" is a donation, stated on the flight certificate. They also send the paperwork used in filing your taxes to claim a donation to a non-profit.

[WASP-kid]

Re: Higher living costs hurting the foundations?

Some friends of mine were just hanging out wishing @ Moffett and they were offered a 2-for-1 deal. Unfortunately, since both are in laid-off mode, they still had to pass.