Aviation Practice
The primary focus of our aviation practice is that advocating for aircraft owners. For small entrepreneurial businesses which utilize business aviation assets, we provide full scope tax and accounting services in the traditional sense of a CPA firm. Whether we are working for small entrepreneurial businesses, large corporations, or public companies, we pride ourselves on providing a wealth of industry experience in all facets of business aviation tax and financial matters. With larger corporations and public companies which already have their financial team in place, we often work side by side with these financial professionals as part of the team, filling a niche of expertise in the vast myriad aviation tax and regulatory issues. For further details concerning the areas of focus in this niche practice see below.
Full Service Clients
For small entrepreneurial businesses which utilize business aviation assets, we provide full scope tax and accounting services in the traditional sense of a CPA firm. As such we provide accounting, income tax preparation, income tax planning, wealth counseling much as any other CPA firm would do. These full service clients represent the core of our business.
Aviation Consulting
Many businesses embark upon the path of utilizing business aviation assets without a thorough understanding of the complexities encountered upon arrival. Areas of such complexity and concern include:
Federal Income Tax Issues Overview
- Personal Use of the Company Owned Aircraft
- Wage & Fringe Benefit Rules
- Disallowance of Deductions for Entertainment Use
- Depreciation Issues and Planning
- Entity Structure
- Passive Activity Rules
State Tax Issues Overview
- Sales and Use Tax Overview
- Exemptions Available in California
- Exemptions Available in Other States
- NBAA Aviation State Tax Report
- Property Tax Overview
- Federal versus California Income Tax Differences
- Other State Tax Issues
Federal Excise Tax Issues Overview
- Transportation Tax
- Fuel Tax
Regulatory Environment
Acquisition & Disposition
- The Purchase Process
- The Sales Process
- What Your Broker Didn’t Tell You
- Market Analysis on Purchase or Sale
- Acquisition Financing
- Aircraft Leasing
Alternative Forms of Ownership
- Joint Ownership
- Co-Ownership as Tenants in Common
- Fractional Ownership
- Card Programs
The End Game
- Tax Free Exchange
- The Depreciation Recapture Trap
- Market Risks