An introduction to the tax benefits of using owner/pilot-flown aircraft for business purposes is slated for Feb. 17.
The program, put on by Wolcott & Associates, a CPA firm with a practice limited solely to the aviation industry, begins with a discussion of the IRS regulations governing business use of owner/pilot-flown aircraft, and includes the types of costs and expenses available to deduct against other taxable income.
The discussion includes determining if you have a deductible business use for your plane, calculation of depreciation benefits, how to track and report expenses, non-business use, leasebacks to flight schools, charter and rental operators, passive activity limitations, types of ownership structures, and the basics of tax return preparation.
For more information: 954-763-9363 or Aviation-CPA.com
