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Why is tax record keeping for aircraft different?


 

Transcript:

Tax record keeping for aircraft is different because the IRS says that they want us to meet a higher standard in showing the use of the aircraft and why it should be deductible. Therefore there are specific regulations that govern what the IRS is going to be looking for if you’re going to take deductions under the listed property rules under which aircraft apply. Additional documentation, like a tax flight log and support for those trips is necessary in order to avail yourself of full deductions for the aircraft.

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