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.
By: Suzanne Meiners-Levy
Understanding the Value of Equipment Expensing and Carryback Net Operating Losses
In uncertain times, businesses and individuals often delay large purchases and investments they had long anticipated, and that will ultimately serve the long-term interest of the company, for fear of uncertain outcomes or with a mistaken belief that it is not the right time. In our practice, where we interact with over 1,500 general aviation owners and operators on an on-going basis,
» Read more about: A Powerful Aircraft Purchase Incentive in the CARES Act »
By: Letisha D. Bivins
State taxes are often overlooked in general aviation. Whether you use your plane for business or just for personal pleasure, there are state taxes that may apply to your plane in one or more forms. Forty-four states impose sales and use tax on planes. In addition, 42 states impose annual personal property tax and/or registration tax on planes.
I often hear, “I took delivery in Oregon,
» Read more about: Overlooked & Misunderstood – The Basics of State Aircraft Taxes »
As we approach the last quarter of 2019, market indicators support the possibility of a very strong year-end in aircraft transactions. If you have not purchased or sold an aircraft since the passage of the Tax Cuts and Jobs Act (TCJA) of late 2017, a review of how changes in the tax law may impact transactions for the balance of the year is in order. Similarly, if you are contemplating selling your aircraft, upgrading, bringing in a partner,
» Read more about: Five TCJA Tips for Year-End Closings in 2019 »
Bankruptcy Court Affirms a Taxpayer’s Ability to Take General Aviation Deductions for Aircraft that Supports Another Business
General aviation owners and operators are well acquainted with the ability of aircraft to build, support, and grow business operations of all sorts. The clients of our firm conduct myriad business operations ranging from farming to consulting, oil and gas to software, entertainment to medicine. They are as diverse as the economy itself. Meeting travel needs and allowing flexibility are essential roles for general aviation aircraft,
» Read more about: Business Flying and Taxes: What is Business Activity? »