AVIATION TAX PLANNING - How does Advocate Consulting Legal Group, PLLC integrate with my Great Accounting/Legal Team that knows my business? Aircraft operation planning is unique because it requires the integration of Federal Aviation Regulations, Department of Transportation Regulations, federal … [Read More...]
If you use your aircraft for business you may be entitled to income tax deductions. What tax savings result depends on the nature of business use and the ownership structure.
Aircraft purchasers can easily avoid sales tax by closing their sale in the proper jurisdiction. However use tax will generally be imposed where the aircraft is based absent proper planning. There may be multiple state and local use and property taxes imposed on aircraft that travel outside their base state.
Aircraft operators can control liability exposure through ownership structures, contractual agreements, insurance, and insuring compliance with FAA regulations. How you plan for liability protection will often provide protection for key corporate and personal assets.
Designing and implementing tax efficient aircraft acquisition and operational programs. Objectives – Maximize Income Tax Savings and Minimize Sales Use Tax Expense.
A Great Time to Invest in Business Aircraft and aircraft upgrades Potential drop in flow-through tax rates for small businesses from 39% to 15% or 25% may make the value of deductions … [Read More...]
Turbine helicopter proves itself in extreme conditions. Robinson's turbine-powered five-seat R66 helicopter has passed testing required by the FAA and Transport Canada to fly in … [Read More...]
Aerobatic world champions crowned over the weekend. The FAI World Air Games, essentially the Olympics of aerial sports conducted every four years in different parts of the world, … [Read More...]