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Sharing Aircraft Under Part 91

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

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The Flight Department Company Trap

Thinking of operating an aircraft in a sole-purpose company to minimize liability? Think again. One of the most frequently-violated FAA regulations is found in one of the most well-known, but misinterpreted, provisions. As a general rule, Federal Aviation Regulation (FAR) Part 91 operators may not charge or accept reimbursement for

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Sharing Aircraft Under FAR Part 91

For U.S. Operators, charging someone for a ride in the company jet is a subject thick with claims and counterclaims, ignorance and outright bad behavior.  The arguments are old, but some of the consequences are new.  Today, the IRS may be more likely than the FAA to punish practitioners of

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IRS Issues Final Regs on Employee Entertainment Use

The IRS finally issued regulations interpreting the provisions for disallowing deductions attributed to aircraft used for entertainment. The final regulation generally follows the proposed regulations, but there are new provisions. Click here to download full news blast.

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Valuing Personal Flights

For more than 20 years, tax advisors have anxiously awaited the end of October, when they could start making the aircraft fringe benefit calculations for the year.   While these rules have remained essentially unchanged, they are not the kind of subject that is easy to remember.  This article provides you

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Piling on Taxes

A few seasons ago, Congress and the press gang-tackled the general aviation community with the Anti-Sutherland legislation.  Now the states and airlines seem to want to join in the fun, trying to tackle general aviation on a number of state tax issues. Click here to download full article.

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Computing Disallowed Deductions

The regulations governing entertainment flights provide a mixed bag of options.  Until the IRS adopts final regulations. taxpayers can rely on any of three different sets of rules to calculate disallowed deductions : the old rules, IRS Notice 2005-45 and the proposed regulations. Click here to download full article.

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Entertainment Flights

On June 14, 2007 the IRS issued proposed regulations that supersede IRS Notice 2005-45.  The most important change in the proposed regulations relates to the computation of deductions allocable to entertainment flights. Click here to download full article.

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Have Spouse will Travel

Spouse business travel can have a positive impact on the company and, if properly documented, very little negative tax impact. Click here to download full article.

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