SIFL Module
SIFL
Every six months the IRS determines the level of costs incurred by flying on a corporate aircraft in relation to the cost of a commercial airline, and imputes those amounts to the employee's income for the year. They are based on the following: ...
SIFL Tables
SIFL Table The SIFL table contains the monetary values required to calculate the imputed income. You may need to create the first table or you can just copy an existing table and thereby alleviate the need for entering some of the information as a ...
SIFL : What is SIFL
SIFL (Standard Industry Fare Level) is a method of taxing employees, family members, and guests when the company aircraft is used for personal reasons. Every six months the IRS determines the level of costs incurred by flying on a corporate aircraft ...
SIFL & Trip Passenger Information
The amount of imputed income the employee will receive is determined by the options selected within the trip passenger data. Navigating the Trip Passenger Data: Trip Passenger Data can be found within a trip, by selecting the Pax/Cargo tab, and ...
SIFL: Getting Started - Weight in Aircraft Type Data
SIFL calculation is also based on the weight of the aircraft. The Maximum Takeoff Weight (Max T/O) of the aircraft type must be listed in the Aircraft Type Data to ensure the SIFL calculation is correct. This field can be found under the Aircraft ...
SIFL: Getting Started - Mileage Calculation in Company Data
FOS uses the great circle distance between airports to calculate the SIFL charge. This setting can be found in the Company Data under the “Times” tab. Spherical– this option will calculate mileage as if the earth is a perfect sphere. Ellipsoid ...