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 […]
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 […]
Revenue Procedure 2010-13 Effective for Years Beginning After January 25, 2010 There are a number of good business reasons to isolate aircraft ownership and operation in stand alone entities. The […]
Aircraft Income Tax, Passive Activity & Hobby Loss
Aircraft Income Tax, Passive Activity & Hobby Loss
Structuring Transactions to Control Liability and FAA Limitations May Require Tax Election There are often compelling reasons to own an aircraft outside the core business entity. These might include interests […]