Federal Excise Tax Changes For Charter
Kent S. Jackson March 11, 2021
Aircraft owners don’t have to accept responsibility and liability for operational control in order to avoid the 7.5% FET. Find out more.
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2021 and The Business Aviation Tax Code
Kent S. Jackson March 11, 2021
How will the business aviation tax code be affected in 2021, and how important will aircraft related deductions be in mitigating tax increases that may occur?
Sharing Aircraft Under Part 91
Kent S. Jackson August 28, 2020
When Does “Sharing” Become Illegal Charter? The FAA Reauthorization Act of 2018 contains a section entitled “Report on Illegal Charter Flights.” The law includes several requirements to identify and combat illegal charter flights. The FAA has been revising inspector guidelines. They even sent a letter to every pilot on record
NBAA BACE
Kent S. Jackson October 28, 2016
Join 27,000 industry professionals for the most important three days of business aviation. Ranked as the sixth largest trade show in the United States, the Business Aviation Convention & Exhibition (NBAA-BACE) will be held Nov. 1-3, 2016, in Orlando, Florida, bringing together current and prospective aircraft owners, manufacturers and customers
This Election Season, Make Every Flight Count
Kent S. Jackson June 3, 2016
The 2016 election season has arrived, and with it, private aircraft owners have a unique opportunity to contribute more than a completed ballot, and accept more than a campaign promise. FARs Part 91 generally prohibits an aircraft operator from charging for flights; however, section 91.321 provides an exception for operators
Use Your Aircraft to Increase Benefits
Kent S. Jackson July 1, 2015
Establishing a corporate shuttle can present numerous economic, legal and logistical challenges, but the long-term benefits, including internal and tax advantages, can make the effort worthwhile. Click here to download full article.
Tax Tips & Traps to Avoid When Buying a Jet
Kali M. Hague March 18, 2015
Before entering into an aircraft purchase agreement, it’s imperative to understand that sales and use tax requirements are state-specific. Failing to account and plan for sales and use taxes can result in an unexpected tax bill including substantial penalties and interest. Many states are increasingly prone to audit jet aircraft
Personal Flights + Employee Fringe Benefits: Guidelines for Reimbursements
Kali M. Hague December 17, 2014
Click here to download full article.
State Taxes on Aviation
Kent S. Jackson July 31, 2014
Every aircraft owner is potentially liable for a wide variety of state and local taxes: sales and use tax, income or franchise tax, personal property tax and/or registration tax. To make matters worse these tax laws vary from state to state, and can apply in multiple states. The attached article
A Year-End Review of the Fringe Benefit Rules
Kent S. Jackson January 2, 2014
Where an employee, or a guest of an employee, uses an aircraft for personal transportation, the fringe benefit rules generally require the employer to treat the value of such personal use as additional compensation to the employee. In the case of aircraft, the rules governing the calculation of these amounts
