Will the FAA notify owners when it is time to renew registration?

Transcript:

Six months before an aircraft registration expires, the FAA will mail a reminder to the address that they have on record for the aircraft. A month later, a second notice will be sent. A final notice comes only after the registration actually expires. It is important that you never reach this final notice because at that point the aircraft is not legal to fly and will have its registration cancelled if it is not registered within 60 days after expiring.

Why would I place my aircraft with a flight school operation?

Transcript:

Flight school operations are commonly located at your local FBO and they’re how many of us learn how to pilot, how to fly. Most flight schools don’t own their own aircraft. That is, they use aircraft that are being rented to them by business aircraft owners. Why place your aircraft with a flight school? It can, if properly structured and mindful of the cost, be a great way to offset some of the operating expenses for the aircraft if you’re not flying it for business as often as you initially anticipated or you have limited additional business use requirements.

Why might the IRS treat my aircraft business as a passive activity?

Transcript:

When the IRS takes a look at our income and our expenses, they divide those income and expenses into several categories, that is, active income and expenses, passive or investment income and expenses. The IRS may be inclined to treat the aircraft expenses, even if they’re incurred in your active income-producing business, as passive because of the common nature of aircraft leasing. That is, aircraft are commonly operated under a lease agreement,

Why might I want to put my aircraft in a trust?

Transcript:

Aircraft trusts are used for many reasons, but a common one is to meet legal aircraft registration requirements. US law restricts ownership of US registered aircraft by non-citizens. For companies, US citizenship relates to who owns or controls the company. One type of trust registration, known as a voting trust, involves a company which desires to own an aircraft, but is not a US citizen in effect becoming a US citizen by transferring enough control over the company to a US citizen trustee.

Why is the tax depreciation on aircraft accelerated?

Transcript:

Aircraft are subject to tax depreciation that is very accelerated based upon, in contrast, the actual loss of value of the aircraft. That is makers for part 91 aircraft which is the modified accelerated cost recovery system, is a recoverable life of about five and a half years. This is a purchase and investment incentive built into the tax code. That is if you purchased a new aircraft or a used aircraft even and it only lasted you five and a half years there’s something wrong with your machine.