There are compelling reasons to own your own piece of the sky. No more crowds, your own schedule, your own path to your own goals and memories. Add to that, sound financial reasons for aircraft ownership as well. Beyond the money saved on overnight trips, delays caused by airlines, and other miscellaneous expenses, owning an airplane has definite tax advantages.
You want to surround yourself with experts who not only know their way around the cockpit but also the best business advice as well. Tax advantages are just another plus to traversing the skies to your destination. Tax advantages are just another plus to traversing the skies to your destination.
1. Do I have to pay sales or use tax on my aircraft purchase?
2. Can I use a Delaware corporation to avoid sales tax?
3. I have already purchased an aircraft, can you still help me?
4. I am ready to close on a plane next week, is there enough time to get things set up?
5. Can I write off the aircraft expenses that I use for both business and pleasure?
6. When will bonus depreciation / Section 179 end?
7. Should I depreciate my aircraft?
8. What is “placed in service?”
9. How much income tax will I save?
10. My CPA says I can’t write off my aircraft…
11. Do I have to pay capital gains tax when I sell my plane?
12. Can I charge my friends when I fly them to the weekend golf trip?
13. I received a letter from my state department of revenue asking me to pay sales tax on my aircraft, can you help me?
GET THE ANSWERS TO THESE QUESTIONS AND READ THE REST OF THIS ARTICLE INSIDE THE MEMBERS PLATFORM
As an E3 Aviation member, you get access to TONS of informative aviation articles and content. Sign Up or Log In today and enjoy all of the tools, resources, product discounts, community and entertainment that E3 Aviation Association offers.