Flying “off the balance sheet” has always occurred at the fringes of our industry, but now it is becoming mainstream. It shouldn’t be. The IRS seat approach is virtually harmless to companies that have incorporated corporate aircraft shuttles in their flight operations, because the number of business butts in seats then dominates the calculation. That leaves the taxmen little room to disallow deductions for entertainment use of the aircraft by its owners, officers and directors.
The Reward For Filling the Cabin: More Money
Post Category: Point of Law
- July 17, 2009
- Kent S. Jackson
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