My $12,000 crack habit.

EdFred

EdFred

Taxi to Parking
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White Chocolate
Totaled up ALL my expenses for the year with the Cherokee. I was just shy of that number when I looked at what I ended up spending on fuel, oil, annual, labor for installation of mods, new airspeed indicator, new COM radio, wheel pants, insurance, hangar, 24 month transponder and static check, strut repair, and other small maintenance items. That number does not include electricity or insurance on the hangar, or charts which is another two or three hundred or so.

I ended up logging 112.change in the Cherokee this year. Over $100/hour operating cost. Yikes. Although, over $4,000 of that cost (pants, mods, new com radio, etc...) was "elective" and shouldn't be incurred next year.

Well, at least since I have all my costs documented for the airplane I can use a per hour rate for tax deductions instead of a fuel and oil only.
 
i can play that game. 4000 for glider/trailer. approx 20 flights for a total of 25 hours. probably a good 300 spent at Lowes buying hardware for trailer and glider. 150 spent on new variometer. 100 on handheld radio. tows were average 20 bucks a piece. ho boy and 3 long retrieves averaging 35 bucks in gas plus some food. Basically i spent about twice as much per hour than you did Ed, but boy was it fun! Next year will be a lot better cause i wont have to buy the glider again :)
 
$12,000 must be the magic number. I am at $11,700 and some change over the last year.

All of that in airplane rental fees.
 
EdFred said:
Well, I kinda had to for tax purposes this year.
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Nope, just turn the receipts into the CPA like I do. Don't even want to add them up:no::eek:
My fixed costs are $8000 without fuel, oil, maintenance, and extra's so I am sure I am around
the 12K mark as well with about 150 hours between the wife and I. Wasn't bad before I bought the new prop.
 
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Don Jones said:
Nope, just turn the receipts into the CPA like I do. Don't add them up:no::eek:
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LOL - I AM the CPA. Turns out I had a shade over 40 hours of tax deductible flights this year. Flights for airport inspection. Flights for lifeline. Flights for work. That's why I had to keep track of it really close this year.
 
EdFred said:
LOL - I AM the CPA. Turns out I had a shade over 40 hours of tax deductible flights this year. Flights for airport inspection. Flights for lifeline. Flights for work. That's why I had to keep track of it really close this year.
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Oh, that might be a problem for you to use my system, LOL:D
 
FlyNE said:
I don't HAVE to add them up. Mine are itemized for me and presented when she's on her way to the mall.:rofl:
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LOL! The ONE time I added 'em all up, the wife saw the number and said, "well, if we can afford THAT we can afford new bedroom furniture!"
 
Ken Ibold said:
LOL! The ONE time I added 'em all up, the wife saw the number and said, "well, if we can afford THAT we can afford new bedroom furniture!"
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That's funny, that's EXACTLY what my wife did to me this year. Had to concede the point, though, since she even went with me to pick up the new toy.
 
NEVER add them. Have your accountant do it and keep the results in a sealed envelope.

Thank goodness I handle the finances or the missus would definitely think less of my little hobby! Right now I'm at 139hrs for the year -- all I can say is "think of how much I'm saving by owning instead of renting!"

The obvious comeback is, "think of how much we'd save if you didn't fly!"


Edit -- BTW, the missus is the one who earns all the money!!
 
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jesse said:
$12,000 must be the magic number. I am at $11,700 and some change over the last year.

All of that in airplane rental fees.
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$11.6k in club rentals for me this year.
 
Haven't added it up this year. However, I'm sure the enjoyment factor has been well worth it!

And as I have often said to my friend who got me hooked on flying: "it would've been cheaper had you given me actual crack." :D


-Rich
 
rpadula said:
Haven't added it up this year. However, I'm sure the enjoyment factor has been well worth it!

And as I have often said to my friend who got me hooked on flying: "it would've been cheaper had you given me actual crack." :D


-Rich
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lol. Ed, at least you only have one engine.
ApacheBob
 
Lesse - for me, I spent $11,179 this year, inluding insurance and hangar costs.
 
I keep a detailed spreadsheet of all my airplane costs. And its locked away from any prying eyes, including my wife's. ;)
 
Restoration and upgrades to the Citabria alone totaled $30,000, and we still need to have the carburetor rebuilt. That doesn't include any other expenses or money spent on the Skyhawk. Flying is our life, and the expenses are all worth it to us....it's all about priorities.
 
Well, I'm an accountant, and I refuse to add up the costs. :eek:

Kaye
 
EdFred said:
For now. For now. I see a twin happening in the next couple years or so.
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You would look good in a 1957 Apache. My buddies have a Cherokee 6 and I am hoping to buy a share.
ApacheBob
 
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Geez, you guys, you need to get an affordable airplane like a Tripacer. I only spent about 6500 on 120 hrs this year. That doesn't include the cost of motels when traveling or poker run entry fees. Of course, we won't mention the year I redid the panel or the year I redid the engine or the year I put in bigger tanks and redid the skin. :rolleyes:

Barb
 
Ken Ibold said:
LOL! The ONE time I added 'em all up, the wife saw the number and said, "well, if we can afford THAT we can afford new bedroom furniture!"
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Mine noticed the pricing and decided it was about the same as a second home somewhere. Our current deal is that I only get one plane per house. We're at one house and holding...

$82/hr to run the Toga this year, including hangar and insurance. My FBO charges $93/hr for a '71 C172. Yikes! I had no idea I was saving so much money. Now I need to get two engines so I can save some more. :rolleyes:

Regards,
Joe
 
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One Short said:
Geez, you guys, you need to get an affordable airplane like a Tripacer. I only spent about 6500 on 120 hrs this year. That doesn't include the cost of motels when traveling or poker run entry fees. Of course, we won't mention the year I redid the panel or the year I redid the engine or the year I put in bigger tanks and redid the skin. :rolleyes:

Barb
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Well, Barb, if I take out the big ones:

950 for ASI and labor to install
2300 for new fuel valve and speed mod installation
1200 for wheel pants, paint and installation
800 for a new ICOM Radio
250 for mag overhaul

Takes me down to oddly enough $6500 for only 8 less hours than you. :) None of my costs included charts or hotels. HOPEFULLY - 2007 brings me less maintenance costs.
 
wbarnhill said:
Problem. The missus IS the accountant. :eek:
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I have the same situation -- you just need to volunteer to handle the finances so "she doesn't have to worry about that when she's not at work..."

(And then make sure you take her on trips to visit her family...)
 
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