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HOW TO QUALIFY YOUR FLIGHT SCHOOL AIRCRAFT AS AN ACTIVE TRADE OR BUSINESS

Aircraft Income Tax, Passive Activity & Hobby Loss

Filed Under: Aircraft Income Tax, Passive Activity & Hobby Loss Tagged With: economic profit expectation, flight school, grouping election, hobby loss, leaseback, passive activity

ELECT AIRCRAFT GROUPING FOR INCOME TAX SAVINGS

Structuring Transactions to Control Liability and FAA Limitations May Require Tax Election

There are often compelling reasons to own an aircraft outside the core business entity. These might include interests as diverse as complying with Federal Aviation Regulations, controlling liability, managing sales and use tax issues, as well as state and federal income tax issues. Regardless of the motive for the structuring, transactions that are not properly planned may result in adverse income tax consequences.

 » Read more about: ELECT AIRCRAFT GROUPING FOR INCOME TAX SAVINGS  »

Filed Under: Aircraft Income Tax, Passive Activity & Hobby Loss Tagged With: economic profit expectation, grouping activities, grouping election, hobby loss, ordinary and necessary, passive activity

AVOID AIRCRAFT DEPRECIATION RECAPTURE – CONSIDER A LIKE-KIND EXCHANGE

Aircraft Income Tax, Tax Planning

Filed Under: Aircraft Income Tax, Tax Planning Tagged With: depreciation recapture, like kind exchange, reverse exchange

MAXIMIZING AIRCRAFT TAX SAVINGS THROUGH PLANNING

Aircraft Income Tax, Tax Planning

Filed Under: Aircraft Income Tax, Tax Planning Tagged With: aircraft reimbursments, aircraft tax, aviation tax, ordinary and necessary

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Latest Article

Corporate Jet Investor Town Hall – Finance, Tax and All That Jazz (Webinar Replay)

View a replay of the town hall by clicking the video above, or following the link here.

As you know, these are unprecedented times for business aviation. We invite you to join the Corporate Jet Investor Town Hall as a way of staying connected and informed during this period.

Moderated by Alasdair Whyte, co-founder Corporate Jet Investor, each week CJI will tackle a different issue or topic through the knowledge of as many expert participants as possible.

 » Read more about: Corporate Jet Investor Town Hall – Finance, Tax and All That Jazz (Webinar Replay)  »

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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.