Category: Youtube income tax

  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: 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: Business helicopters have become a more and more useful tool and are becoming more common in operation and practice in the US. Yes, you need to keep the […]

  Transcript: The sale of a business aircraft typically results in a taxable gain arising out of the tax depreciation rules. As a long-lived asset, when a plane is purchased, […]

  Transcript: When you have a primary purpose business trip, but that includes some tag along personal entertainment passengers – that will often lead to reduction in tax deductions. If […]

  Transcript: Aircraft expenses for business are deductible on your federal tax return and there are certain cases in which personal expenses may also be deductible. Your ability to write […]

  Transcript: Safely operating a business aircraft requires having professional and up to date pilots, and it often requires, by insurance, that your pilot receive training. The deduct-ability of pilot […]

  Transcript: It’s virtually a foregone conclusion that business aircraft will be used at time for the personal purposes of a business owner or a business employee, and often, owners […]