How do the truth-in leasing rules define a lease?

Blog

Transcript:

For truth-in-leasing purposes a lease is considered to be any arrangement where an aircraft whether with or without crew is provided by one person to another for compensation or hire. This doesn’t include aircraft sale agreements. Compensation for this purpose is defined very broadly. It includes many things other than cash for service and could mean for example a barter or a trade, the reimbursement of expenses, or even capital contributions given to a company providing the plane.

Advocate Covers:

Aircraft Tax Compliance
Aircraft Audit Defense
Aircraft Depreciation Calculations
Fringe Benefit – SIFL Calculations
Passive Activity & Hobby Loss
Sales and Use Tax Planning
California Interstate-Exemption Assistance
Personal Use of Aircraft
General Aviation Law
Aircraft Entity Structuring and Planning
Aircraft Agreement Drafting and Review
FAA Compliance
Aircraft Registration
Part-91 and Part-135 Operations
Aircraft Co-ownership
Fractional Aircraft

Our Results

Service Agreements

Piston Aircraft Comprehensive Service Agreement

For Piston Aircraft – $5,000 per year

Small Turboprop Comprehensive Service Agreement

For a single Turboprop Aircraft costing less than $2,000,000 – $7,500 per year

Large Turboprop Comprehensive Service Agreement

For Turboprop Aircraft costing more than $2,000,000 – $10,000 per year

Our Team

Meet the Attorneys

View All

Jonathan Levy

Shareholder

Suzanne Meiners-Levy

Shareholder

Joseph Quackenbush

Managing Attorney

Richard Yan

Managing Attorney

Do you love aircraft? Work with our team of professionals!

Contact Us

Get in Touch
With Us

Phone

888.325.1942

888.325.1942

Blog