Tax Issues for Airplane Purchases: Planning Strategies, Complexities Under Current Tax Law
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will outline guidance to tax attorneys and advisers on the applicable tax rules and key considerations for business aircraft purchases and ownership. The panel will discuss available planning options for purchases and ownership, reduced or eliminated tax deductions, and opportunities for tax savings, federal air transportation, and fuel excise taxes.
Outline
- Tax treatment of aircraft ownership under current tax law
- Key planning techniques to maximize tax benefits
- Application of the federal fuel and air transportation excise taxes
Benefits
The panel will review these and other key issues:
- What are the key considerations in structuring an aircraft purchase?
- What are the most effective methods for calculating travel, meals, and entertainment deductions?
- What are the hobby loss rules and traps to avoid?
Faculty
Frank P. Beninato, III, CPA
Attorney
GKG Law
Mr. Beninato, III is an Associate in GKG Law, P.C.’s Business Aviation Group. His practice entails representing... | Read More
Mr. Beninato, III is an Associate in GKG Law, P.C.’s Business Aviation Group. His practice entails representing C-suite executives, high net worth individuals, and other aviation industry businesses in negotiating, structuring, and closing tax efficient and FAA compliant acquisitions, leases, and dispositions of large long-range business aircraft and helicopters, as well as advising his clients in developing aircraft ownership and operating structure alternatives to ensure compliance with FAA regulations, maximize ownership/operating deductions, and minimize likelihood of future audits.
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Letisha D. Bivins
Principal
GKG Law
Ms. Bivins received her LL.M. in taxation from the University of Florida Levin College of Law, where she was a Graduate... | Read More
Ms. Bivins received her LL.M. in taxation from the University of Florida Levin College of Law, where she was a Graduate Tax Scholar. She received her J.D. from Florida State University College of Law in 2003 and was a member of the Trial Advocacy Team. Ms. Bivins has been involved in all aspects of state and federal tax examinations, including representing clients during the examination process; negotiating with IRS and state revenue personnel to resolve tax assessments; and representing clients before the U.S. Tax Court and state courts and administrative tribunals.
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Joseph C. Mandarino
Partner
Smith Gambrell & Russell
Mandarino is a Partner in the Tax Practice of Smith, Gambrell & Russell, LLP. His practice focuses on... | Read More
Mandarino is a Partner in the Tax Practice of Smith, Gambrell & Russell, LLP. His practice focuses on corporate, tax and finance law. Mr. Mandarino is involved with a wide variety of businesses and transactions, including experience with compliance, planning and M&A activities for partnerships, individuals and corporations. Mr. Mandarino writes and speaks extensively on a wide range of business, tax and finance topics.
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