AircraftLogs.com has unveiled upgrades that automate tax reporting for companies with an internal flight department. These upgrades automate the calculations required for company tax returns, and simplify the effort required to comply with strict new IRS regulations.
The upgraded “Tax Manager” feature works with existing flight records and passenger data held in the AircraftLogs system. It updates aircraft tax compliance information immediately after each flight. It also calculates fringe benefit income as required, following the use of the company aircraft by executives. This allows company tax personnel to monitor compliance on a real-time basis, and take action, as required. The system also includes necessary reports which can be shared with an outside auditor or tax-preparer.
For more information: 888-FLY-LOGS or www.aircraftlogs.com