Aircraft Consulting

Employing an aircraft in a business can be one of the most satisfying acquisitions for any business owner or executive. Aircraft provide the ability to be at a location or meeting on very short notice and with the best use of executive time while in transit. They alleviate the hassles of commercial flight and allow the business owner to work in a comfortable environment while traveling.

Unfortunately the Internal Revenue Service, State income tax and sales/use tax
authorities and the FAA do not have the same appreciation for your aircraft. The IRS
and other taxing authorities are seeking ways to eliminate the deductions associated
with business aircraft operations and to impose sales or use tax on the acquisition of the
airplane – even where obvious exemptions exist under the State’s statute.

The Solution:

Have your CPA or tax advisor and attorney involved at the very beginning of negotiations to acquire your aircraft. We have over 20 years of consulting experience advising our clients about the proper tax and operating structure for your aircraft. We can help you with the proper steps and documentation to ensure you receive your sales or use tax exemption and tax deductions for your aircraft.

We also have extensive experience in defending your deductions and exemptions when they are under audit. If you have been contacted by the IRS, state tax authority or Board of Equalization; contact us and we will assist with the management and defense of your audit. Don’t get caught writing a big check to the government that not only includes tax, but penalties and interest.

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Barnthouse & Associates LLP © 2012
Tax Advisory and Business Consulting - Certified Public Accountants
1800 Quail Street, Suite 110, Newport Beach, CA 92660
Direct: (949) 637-0588 - Fax: (877) 578-0548

Disclaimer Statement: This Barnthouse & Associates LLP Internet site is provided for your general information and may not reflect changes to federal and state laws. Action should not be taken on the basis of these articles. Action should only be taken on the advice of your professional advisor after discussing the rules applicable to your specific situation.

Circular 230 Disclosure: Any advice contained on this website (including any attachments unless expressly stated otherwise) is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.