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Co-Ownership Opportunities

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!

Advocate Covers:

Our Results

Service Agreements

Piston Aircraft Comprehensive Service Agreement

For Piston Aircraft  – $5,000 per year

Small Turboprop Comprehensive Service Agreement

For a single Turboprop Aircraft costing less than $2,000,000 – $7,500 per year

Large Turboprop Comprehensive Service Agreement

For Turboprop Aircraft costing more than $2,000,000 – $10,000 per year

Our Team

Meet the Attorneys

Jonathan Levy

Shareholder

Suzanne Meiners-Levy

Shareholder

Joseph Quackenbush

Managing Attorney

Richard Yan

Managing Attorney

Do you love aircraft? Work with our team of professionals!

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Resources

Latest Articles

“IRS Crackdown” On Private Jet Usage To Focus On Appropriate Record-Keeping And Reporting: Advocate Clients Are Well-Equipped For The Challenge

By Suzanne Meiners-Levy On February 21, 2024, the IRS announced it will use enforcement funds from the Inflation Reduction Act (PL 117-169) to initiate “dozens” of new audits focusing on […]

New FinCEN Requirements Create Reporting Obligations for Many Aircraft Ownership Entities: Understanding the Law and Its Requirements

By Suzanne Meiners-Levy & Joshua Blakeney On January 1, 2024, the Beneficial Ownership Information Reporting (“BOIR”) requirements under the Corporate Transparency Act (“CTA”) went into effect. The BOIR requirements under […]

100% Bonus Depreciation Extension is An Essential Piece of the New 2024 Tax Deal Proposed by Senate and House Tax Committees

By Suzanne Meiners-Levy On Tuesday, January 16th, 2024 top lawmakers on the Senate and House tax writing committees announced a deal on a wide range of tax issues, including several […]