Wolcott & Associates, PA, a CPA firm devoted to the aviation industry, has several tax webinars slated.
Scheduled for March 19 is “IRS Reporting for the Personal Use of Company Aircraft Using the SIFL Rate Tables.” The course will discuss rules for applying the SIFL valuations, control vs. non-control employees, and specific rules and reporting methodologies.
“Strategies for Reporting Entertainment Flight Cost Limitations” is slated for March 26.
The American Jobs Employment Act of 2004 added new limitations from using company aircraft for entertainment flights. Discussion topics will include calculation methods, use of the seat-mile, seat-hour, and flight-by-flight calculation methods, application of the straight-line class-life provision, tax return preparation, as well as 16 recommendations for limiting the tax effects from the entertainment cost limitations.
Both webinars include an optional 15-minute overview of the American Recovery and Reinvestment Act of 2009, explaining the 50% Bonus Depreciation for aircraft, the increased Section 179 expensing provision, and new five-year loss carry-back provisions for 2009.
For more information: Aviation-CPA.com