Like-Kind Exchanges Section 1031 of the Internal Revenue Code provides an exception to the overall rule that gain realized on an a sale or exchange of property must be recognized as income. In the case of aircraft, the exception applies when it’s held for business use, not personal use, and is exchanged for another aircraft, […]
Washington, DC, Oct. 11, 2013 – The National Business Aviation Association (NBAA) has released its new Federal Excise Taxes Guide: Details on Air Transportation and Fuel Taxes. Last published in 2005 as the NBAA Federal Excise Tax Handbook, the guide is intended to provide business aircraft owners, flight departments and charter operators with a basic […]
Take advantage of current benefits before they expire. Equipment is probably one of your most significant investments especially in aviation. If you are considering additional investments in equipment, there is a significant advantage to purchasing capital equipment before the end of 2013. The current law allows you to deduct up to $500,000 (subject to limits) […]
June 2, 2013 by Charles Spence WASHINGTON, D.C. — General aviation is getting attention here, but the results are mixed between a favorable outlook and a more pessimistic future. The direction it will take seems to be determined more by affecting influences than on the industry. The airlines cutting back on service presents a greater […]