by argoodlw | May 7, 2014 | Aircraft Business, Aircraft Income Tax Rules, Aviation News, aviation tips, Tax Exemption
Bonus Depreciation For 2015 Aircraft I read an interesting article in Aviation Week about the resilience of the market for the largest business jets. Their resilience as the aircraft of choice for ultra high net worth individuals, governments and corporations is no...
by argoodlw | Oct 8, 2013 | Aircraft Business, Aircraft Income Tax Rules, Aircraft Sales Tax, Aviation News, aviation tips, Florida sales tax, Florida use tax, general aviation, Tax Exemption
Florida Introduces New Form to Report Sales and Use Tax on Aircraft The Florida Department of Revenue (FL DOR) has updated its reporting form on the sale and use of aircraft in Florida. Form DR-15AIR (Sales and Use Tax Return for Aircraft) replaces Form DR-42A...
by argoodlw | Jun 18, 2013 | Aircraft Business, Aircraft Income Tax Rules, Aircraft Sales Tax, Aviation News, Florida sales tax, Florida use tax, Internal Revenue Service, Tax Exemption
TIP # 13A01-07 DATE ISSUED: June 10, 2013 Effective May 20, 2013, the sales and use tax exemption for replacement engines, parts, equipment, and labor used in or for the maintenance or repair of rotary wing aircraft (i.e. helicopters) was expanded to include aircraft...
by argoodlw | May 21, 2013 | Aircraft Business, AIRCRAFT EXCISE TAX, Aircraft Income Tax Rules, Aviation News, general aviation
The Internal Revenue Service (IRS) is suspending tax assessments applied to aircraft management companies during federal exercise tax (FET) audits while it develops additional guidance for auditing aircraft management operations. The suspension is the result of...
by argoodlw | Feb 19, 2013 | Aircraft Business, Aircraft Income Tax Rules, Aviation News, aviation tips, general aviation, Internal Revenue Service, Other Tax
SIFL rates are important numbers used to calculate the taxable income you receive when taking a personal flight on employer provided aircraft as a fringe benefit. The U.S. Department of Transportation recently released new SIFL rates for the 1st half of 2013 and...
by argoodlw | Oct 3, 2012 | Aircraft Business, Aircraft Income Tax Rules, general aviation, Internal Revenue Service, Legal Resources, Other Tax
Deduct your flying lessons: Can you take a tax deduction for your flying lessons? The short answer: yes, but it depends on your situation and the circumstances. To justify such a deduction, a taxpayer must show that the lessons are a reasonable and necessary...
