Although overlooked at times, where you store your aircraft is a very important part of being a responsible owner. Whether you decide to hangar it or tie it down, where and how you store your plane can change its re-sale value, extend its longevity, or conversely, cost you a lot of unnecessary expenses. It all depends on how you look at it. So let’s look at the pros and cons of storing your aircraft in a hangar versus keeping it tied down outside. Obviously hangars can cost a lot of money. Money no object who wouldn’t want the private suite? While prices differ, hangaring your aircraft can cost you up to $500-$600 per month, which is hundreds more than keeping it tied down outside. Tie-down fees can run anywhere from $50-$100 per month. There are reasons for this.. A hangar offers far better protection from natural elements, therefore reducing potential damage and devaluation of your plane. Tying your aircraft down outside, while costing far less money, will leave it exposed. This may be a wise financial decision if you are in an area where inclement weather is rarely an issue, not so much if you’re basking in the Florida sunRead more →
Ok, so you’ve purchased your aircraft and you’re ready to fly. You’ve got your insurance, received all the proper clearances from the FAA, and even planned on taking up some friends with you on your first flight in your new plane. But what happens if something goes wrong? What happens, God forbid, if one of your passengers is seriously injured, or even killed? Who is legally held responsible? The answer lies in liability waivers. Liability waivers are an important part of covering yourself from potential legal action should something go wrong while taking people with you on a flight. Even if you’re flying with your best friend, the importance of having EVERY passenger sign a waiver before takeoff cannot be casually ignored. Should an accident happen while the aircraft is under your control, YOU may be responsible for any physical damage to your passengers, and in the case of death, liable to their estate. With a certified, signed, legal waiver, your passengers are agreeing to remove you from any liability involving injuries incurred by them, should something go wrong during the stated flight. This waiver needs to be made in accordance with what type of aircraft you are flying andRead more →
Wisely choosing not to further pressure private aviation businesses, the Maryland legislature defeated a measure that would have imposed a 1-percent luxury surtax on aircraft costing $36,000.00 or more, plus 2 percent of amounts above $90,000. This was a wise decision (as in other close-call states) on the Eastern Seaboard given the proximity to Maryland of states such as Massachusetts, which charge no sales tax on aircraft, or Connecticut, which charges no tax on larger aircraft and exempts all maintenance activity from sales tax as well.
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