JET TALK - INSIGHTS & ARTICLES

The latest news and information on private aircraft ownership and operations.
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Bonus Deprecation Redux

Will Congress restart the bonus depreciation clock?  Hill watchers are hopeful.  The House passed the “Tax Relief for American Families and Workers Act” on January 31st by a vote of 357-70.  Senate Majority Leader Chuck Schumer has expressed support for the bill.  The Senate Finance Committee recommended extending 100% bonus

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Interchange Agreements

Your airplane is down for unscheduled maintenance, and the boss needs to fly tomorrow.  Your friends at the flight department across the ramp fly virtually identical equipment, and their schedule is clear.  Why not just have them fly the boss tomorrow, and you will owe them the favor?  If no

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Navigating Whistleblower Protection in Air Carrier Employment

If a charter pilot gets fired for repeatedly pointing out safety issues to the Director of Operations, does the pilot have any legal remedy?  The answer under state law depends on the state and is probably a definite “maybe.”  However, there is federal law aimed precisely at the issue. Does

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Staying Compliant With Time-sharing Agreements

The FAA issues press releases about multi-million-dollar civil penalties on a regular basis.  All too often, these cases involve aircraft time sharing agreements. Although the FAA has allowed time sharing agreements since 1972, misunderstandings about these agreements persist.  14 C.F.R. § 91.501(c) defines a time-sharing agreement as “an arrangement whereby

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Spring Cleaning: Dust Off That Aircraft Insurance

Aircraft insurance is generally a necessity, however, all too often, once the initial policy is bound, the policy finds itself in the back of the lowest drawer of the filing cabinet.  It is common for us to get calls about what coverages “should” exist, but when the event or cause

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Dealing With an Aircraft Tax Audit

The Key to Surviving a Tax Audit Preparation is the key to surviving a tax audit and receiving a “no change” letter acknowledging that your tax returns were proper.  Aircraft operators know that the FAA doesn’t believe that an inspection occurred unless the paperwork proves it.  The IRS won’t believe

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