Money » Taxes, Laws & Finance

The Demo Flight
October 1, 2008
A demonstration flight can help you determine whether the cabin size and conf
You probably wouldn't dream of buying a car without test-driving it. Yet people sometimes purchase airplanes they have never flown in-or even seen. Some of these buyers rely on a trusted business associate or flight crewmember to look at the aircraft for them, but this is a risky idea. If you're purchasing the airplane and will be riding in it, you'd be well advised to check it out yourself.
What jet buyers must know about taxes, laws and finance
July 1, 2008
Taking delivery of a business jet is exciting, but maintaining that excitement can be tough, given the daunting work that awaits. Putting aside practical considerations-such as hiring a management company, finding a crew and hangar space and preparing the aircraft for operations-a host of legal, tax, risk-management and financial decisions require attention.
Bonus depreciation is back
April 1, 2008
Bonus depreciation can save you a lot on taxes–or not. It all depends on your
Bonus depreciation was introduced in the so-called Job Creation and Worker Assistance Act of 2002 in response to the economic malaise following 9/11. Under that act, if you contracted to purchase a factory-new aircraft on or after 9/11 and satisfied certain other requirements, you could start your tax depreciation with a 30-percent "bonus" amount in year one.
Giving politicians a lift? Play by the rules
February 1, 2008
Before you say yes to a candidate's request for a ride, check with your tax a
As the presidential primary season heats up and Election Day approaches, you may be asked to make your aircraft available for travel by government officials and political candidates. Before doing so, you should familiarize yourself with the many laws, regulations and rules that govern such transportation.
Ownership Risk
February 1, 2008
The least obvious and sometimes least protected liability target is the aircr
After 9/11, there is no need to invent catastrophic-damage scenarios involving airplanes. The attacks on the World Trade Center and Pentagon demonstrated conclusively that jets can cause damage on a previously unimagined scale.
Aircraft Finance 2008
February 1, 2008
Since a $10 million jet is as much work for a bank as a $40 million one, the
Uncertainty about aircraft values in the current market poses a major challenge for the companies that finance their purchase. For many new aircraft, the wait for outfitted delivery is as long as five or six years. This backlog puts a lot of pressure on the pre-owned market, where inventories for some models are at all-time lows.
Aging airplanes pose problems
December 1, 2007
Learjet 35A
Since 1963, when William Lear's Model 23 Lear Jet had its first flight, manufacturers have turned out thousands of business jets. Most of them are still flying. They give the lie to many business, accounting and tax assumptions concerning the useful life of business jets.
New rules affect entertainment use of business aircraft
December 1, 2007
Proposed regulations on deductions for entertainment use of business aircraft, issued by the IRS in June, are meant to help aircraft owners comply with changes to the Internal Revenue Code that were introduced in the 2004 Jobs Act. Those changes disallow tax deductions if certain top executives, called "specified individuals," use the aircraft for "entertainment."
Your gray-haired pilot
June 1, 2007
Everyone agrees that age, and the experience that goes with it, are good thin
Alone, in their 50-seat commercial jet, the two young pilots decided to see what [the Bombardier CRJ200] could do," reported The New York Times in an article titled, "Just Before Dying, a Thrill at 41,000 Feet." The article described how the pilots took the aircraft up to its altitude limit of 41,000 feet.
Aircraft Finance
February 1, 2007
Longer loans have led buyers to seek more fixed-rate financing.
The current climate for business aviation financing is not what you might expect. In today's market, you may have to wait three or more years for delivery of a brand-new aircraft. Meanwhile, inventories of many pre-owned models are lower than they've been in several years. With so few aircraft for sale, the financing business must be struggling, right? Wrong.

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Quote/Unquote

“You want to make sure with a race in which you'll be flying home with other drivers that you don't crash into them. It's happened before, and it can make for a little bit of a tense situation.”

-Racecar driver Helio Castroneves