By Molly McMillin, The Weekly of Business Aviation, April 18, 2022 (Original Article) This article has been republished with permission from the author and Aviation Week Network. The fast rise in […]
Aircraft co-ownership is an incredible way to cut down on the fixed costs associated with owning and operating an aircraft and can also allow you to acquire an aircraft that can better suit your unique missions. But, as with any partnership, there can be significant difficulties and pitfalls without proper planning and documentation. ACLG has worked for decades in the general aviation industry and has helped numerous clients engage in successful co-ownership of aircraft of all sizes.
Our team of lawyers and tax professionals will work directly with you and your co-owner to determine the appropriate ownership structure to maximize federal income tax deductions, reduce the impact of sales/use tax on the purchase, and comply with all FAA rules and Federal Aviation Regulations. This will include the preparation of a Co-Ownership Agreement, which has been specifically crafted throughout decades of experience in the industry to avoid common pitfalls and issues between co-owners.
While there are a number of companies that can assist with a small portion of your overall plan for aircraft co-ownership, ACLG is a leader in the general aviation industry for our Tax, Legal, and Compliance (“TLC”) work, which is why we are the Aviation TLC provider. Contact us today to see how our team of professionals can assist you!
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By Molly McMillin, The Weekly of Business Aviation, April 18, 2022 (Original Article) This article has been republished with permission from the author and Aviation Week Network. The fast rise in […]
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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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