Transcript: A common strategy that aircraft owners think of when registering their aircraft with the FAA and determining their state tax liability is how a state would possibly know […]
Transcript: Whenever title to an aircraft changes hands, the parties need to think about sales tax. This often comes as a surprise because they don’t routinely make sales and […]
Transcript: There’s no downward limitation on how much you have to use your business aircraft in order to take any deductions at all. That is, you should be able […]
Transcript: SIFL stands for Standard Industry Fare Level. It’s a multiplier that really does not naturally relate to any number that you would calculate in relation to your aircraft. […]
Transcript: When federal excise tax applies, it is charged at 7 and a half percent of the amount that needed to be paid in order to receive the air […]
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 […]
Transcript: In order to register an aircraft, the owner must provide the FAA with a signed registration application on FAA form 8050-1, along with proof of ownership of the […]
Transcript: Aircraft deductions are subject to strict substantiation recordkeeping rules, under both the travel rules and the transportation property permissions. This means that in order to be able to […]
Transcript: Income tax deductions for aircraft depend on business use. As a result, personal use will always have a negative impact, although to what degree depends upon the exact […]
Transcript: The FAA does not consider part 91.501 flights to be commercial aviation, but the IRS disagrees. Excise tax applies to any amount that had to be paid to […]
Naples Office
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3555 Kraft Rd.
Suite 240
Naples, FL 34105 - 239.213.0066
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- info@advocatetax.com
Tampa Office
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1300 N. Westshore Blvd.
Suite 220
Tampa, FL 33607 - 888.325.1942
- 239.213.0698
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ADVOCATE CONSULTING LEGAL GROUP, PLLC. 3555 KRAFT RD. SUITE 240 NAPLES, FL 34105 AND 1300 N. WESTSHORE BLVD. SUITE 220 TAMPA, FL 33607. SUZANNE MEINERS-LEVY, ESQ. (239) 213-0066. TAX DISCLOSURE. WE INFORM YOU THAT ANY U.S. FEDERAL TAX ADVICE CONTAINED IN THIS COMMUNICATION (INCLUDING ANY ATTACHMENTS) IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF (I) AVOIDING PENALTIES UNDER FEDERAL TAX LAWS, SPECIFICALLY INCLUDING THE INTERNAL REVENUE CODE, OR (II) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY TRANSACTION OR MATTER ADDRESSED HEREIN. PRIVACY POLICY. TERMS OF USE.
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