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 […]
Introduction A federal excise tax of 7.5% (plus a small, per-head fee) applies to amounts paid for transportation by air if the trip begins and ends within the United States, […]
First in a Series – Federal Income Tax Examinations Introduction There has been an increase in federal income tax audit activity for high net-worth individuals and profitable small businesses. […]
IRS EXPANDS AIRCRAFT TAX EXAMS – HOW SHOULD YOU PREPARE? The Internal Revenue Service appears to be taking increased interest in aircraft owners’ income tax returns. It may be a […]
Aircraft Income Tax, Tax Planning
Aircraft Income Tax, Tax Planning