Transcript: Aircraft can be owned in trust vehicles, wherein one company owns the aircraft or the aircraft trust and another company or individual is the beneficiary of that trust […]
Transcript: An interchange agreement is one of the few arrangement allowed by the FAA where a non-commercial operator can provide flights for compensation. In this case, the compensation is […]
Transcript: An aircraft time share is one of the few cases where the FAA will allow an aircraft operator to charge for providing air transportation, even though the operator […]
Transcript: A grouping election is an indication to the IRS that an aircraft is part of a larger economic enterprise or activity, and that the profit seeking activity, and […]
Transcript: Fly away sales tax exemptions are exemptions that are in place in many states that say you can come and purchase an aircraft in our state, and as […]
Transcript: Aircraft are commonly leased between companies or individuals in order to comply with FAA regulations. Increasingly, states have been taking a look at whether or not what’s being […]
Transcript: The terms “wet” and “dry” for aircraft leases can be a source of confusion. The way most people in the industry use the term “wet” refers to a […]
Transcript: It takes several weeks for the FAA to process an aircraft registration application. For up to 90 days during this processing window, the aircraft is legal to fly […]
Transcript: The California Interstate Commerce rule is a very attractive avenue to avoid California use tax. It requires the aircraft to be purchased outside California, used for a business […]
Transcript: If you’re going to be taking business deductions on your aircraft, it’s a good idea to keep a separate flight log for tax purposes. It’s going to require […]