Transcript: Just like any other deductions you’re going to take on your tax return, aircraft deductions, many of which are direct expenses. You want to keep receipts, you want […]
Transcript: When operating an aircraft there’s a bunch of authorities that we’re always paying attention to. We want to make sure we’re FAA compliant and DOT compliant. There’s also […]
Transcript: The schedule that you use to depreciate your aircraft is going to be determined by the use profile of the aircraft subject to the depreciation. Most part 91 […]
Transcript: For the California Interstate Commerce Exemption, documentation is critical. You want a thorough accounting of all the aircraft use both before entering California and during the 6-month period […]
Transcript: The truth in leasing rule requires that any time use of a large aircraft, meaning one greater than 12,500 pounds gross takeoff weight is sold. The terms of […]
Transcript: Aircraft dry lease agreements are very common in the industry, but there’s a lot of misunderstanding of what a typical lease period might be when state or local […]
Transcript: Once a buyer and seller have struck a deal for an aircraft purchase, they will often want to move quickly ahead with the pre-purchase inspection. Too quickly, to […]
Transcript: The occupied seat rule generates out of Section 274-10, which defines personal use of business aircraft. What occupied seat rule says is the IRS is going to treat […]
Transcript: FAA regulations allow certain types of flying for compensation to be conducted only on qualifying aircraft, i.e. fractional aircraft, multi-engine jets, and aircraft larger than 12,500 pounds gross […]
Transcript: Ownership interests in large US aircraft and aircraft engines should be recorded not only with the FAA but also with the international registry, also known as the Cape […]
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