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Tax Treatment of Airplane Purchases: Withstanding New IRS Scrutiny of Personal Use, Maximizing Business Deductions

Note: CLE credit is not offered on this program

A live 110-minute CPE webinar with interactive Q&A

This program is included with the Strafford CPE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Tuesday, July 9, 2024

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

Early Registration Discount Deadline, Friday, June 14, 2024

or call 1-800-926-7926

This course will address tax considerations for aircraft purchase and use. Purchasing an airplane has provided substantial tax savings in the past. The panel will discuss the recent IRS initiative targeting the personal use of airplanes, the final regulations under Section 274(l) for transportation and fringe benefits, and incorporating tax savings strategies relative to purchasing and operating a plane.


As part of its focus on high income taxpayers, the IRS announced in February 2024 that it will audit the business and personal use of corporate aircraft. The Service admitted, "This is a complex area of tax law, and record-keeping can be challenging." The IRS Large Business and International Division is handling these highly complex audits.

In addition to personal use calculations, tax practitioners and owners must consider the hobby loss rules, sales and use tax, state income tax, and federal excise taxes. Generally, bonus depreciation rules allow an immediate deduction of up to 80 percent (2023) or 60 percent (2024) of an airplane's purchase price, adjusted for personal use. At the same time, taxpayers may no longer receive deferral benefits from like-kind exchanges of airplanes.

Listen as our panel of experts discusses the tax caveats of owning a plane. They will guide you through the current tax guidelines, minimizing upfront state and excise taxes, imputing personal use, and avoiding classification as a hobby loss.



  1. Tax guidelines relative to operating and purchasing aircraft
  2. Planning strategies to optimize tax benefits of airplane ownership
  3. IRS examinations of personal use of airplanes
  4. Federal excise tax
  5. Final regulations under 274(l) for transportation and commuting
  6. State income and sales and use taxes
  7. Best practices


The panel will cover and address these and other issues:

  • Structuring an aircraft purchase
  • Preparing for IRS audits of personal use of aircraft
  • Calculating travel, meals, and entertainment deductions
  • Sales and use tax planning
  • Discerning hobby loss rules
  • Commuting expenses


Bivins, Letisha
Letisha D. Bivins


Ms. Bivins received her LL.M. in taxation from the University of Florida Levin College of Law, where she was a Graduate...  |  Read More

Folkringa, Sue
Sue Folkringa, CPA, MTax, ATP, CFI-A/I

Aviation Taxologist
Aviation CPAs

Ms. Folkringa has been the firm’s resident “Aviation Taxologist” since 2008.  She is a member of...  |  Read More

Attend on July 9

Early Discount (through 06/14/24)

CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.

Cannot Attend July 9?

Early Discount (through 06/14/24)

CPE credit is not available on downloads.

CPE On-Demand

See NASBA details.