This is your invitation to the NorCalBAA Monthly Luncheon. This lunch has been generously sponsored by Aero Law Group. (Please register below).
Our special content speakers for this luncheon will be tax attorneys Kevin Austin and Nate Pietilla of Aero Law Group and they will be discussing "Business Aircraft Tax and FAA Issues" (Two Part Session concerning Business Aircraft Tax and FAA issues .)
Part One- During regular meeting time
-the (limited) benefit of bonus depreciation
-Risk of federal excise tax on third-party management company
-FAA sole purpose company issues and Part 91 reimbursement.
-when can we deduct our aircraft?
Part Two- Breakout Session from 1300-1500
-Details about bonus depreciation and Section 179 expensing
-What actions are companies taking to avoid federal excise tax
on management companies (audience participation)
-What are companies seeing in IRS audits (audience participation)
-Deducting business use of aircraft :
Ordinary and necessary test
Personal use of imputed income (SIFL)
Entertainment use disallowance