Transcript: California offers a number of ways for owners to lawfully avoid aircraft sales and use tax. These include exemptions for commercial charter aircraft, aircraft purchase for transport outside […]
Transcript: Aircraft operated in the state of Texas that are used at all for business use are generally subject to the Ad Valorem tax or business property tax. That […]
Transcript: Tax rules for personal use of business aircraft apply not only to aircraft owners, but to anyone making use of an aircraft, such as a lessee or even somebody […]
Second in a series of articles on “How to Survive an IRS Audit of your Aircraft” There are many valid business reasons to separate aircraft ownership from the operating […]
179 Expensing Election of $500,000; phase out starts when equipment purchases exceed $2,000,000. 50% Bonus depreciation for factory new equipment In a welcome display of good governance, Congress this […]
All tax practitioners are aware how unyielding the tax code can be to those who lack sufficient planning and learn of the law’s arcane requirements only after the fact. One […]
When a financed aircraft is owned in a special-purpose company, which lacks assets other than the aircraft, it is typical and understandable for the financing bank to insist that, in […]
A notable milestone in the cat-and-mouse game of individuals seeking to minimize tax burden and Congress making new laws to end potential shelter activity is the Passive Activity Rule, which […]
Tax Depreciation of General Aviation Aircraft Businesses throughout the country routinely make use of general aviation aircraft to provide travel and communication efficiencies that provide them with an important competitive […]
In September 2013, the Department of Treasury released long-expected final regulations governing what expenditures can be deducted as repairs in the year incurred, versus what must be depreciated over multiple […]
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