Learn the rules and techniques for calculating the personal tax consequences from the personal use of company aircraft. Includes using computer software and spreadsheets to track flights and prepare tax computations. The course is intended for company accounting and flight department staff, as well as CPAs and attorneys who assist clients with aircraft tax reporting issues.
|Date & Time:||06/11/15 02:00:PM ET|
The IRS safe-harbor Standard Industry Fare Level (SIFL) rate tables are the most widely-used method of calculating the fringe benefits from using company-provided aircraft for personal use. This course will discuss rules for applying the SIFL valuations, control vs. non-control employees, and specific rules and reporting methodologies. We will explain the use of the SIFL tables, applying aircraft multiples, who is charged, use of SIFL calculators, and the use of spreadsheets to track flights and report the SIFL imputed benefits. Participants will gain a working knowledge of the SIFL rules and how to perform the calculations.
Credit will be provided for attendance in the form of CLE, CPE and a General Certificate
Adequate documentation is retained for a minimum of five years. Such documentation includes, but is not limited to, records of participation, course dates, names of the instructor and panelists and their credentials, CPE credits earned by the participant, copies of surveys and course evaluations.
Refunds for webinars cancelled within five days prior to the date of the course will be refunded or credited toward another webinar. Webinars cancelled less than five days prior to the presentation date will be credited toward a future webinar. Refunds will be paid (or a credit authorization issued in the case of a webinar paid by credit card) within two business days of the date the refund was requested.
Participants who have registered for a webinar that is subsequently cancelled will be offered a full refund or credit to a future course, at the choice of the participant.
Wolcott Aviation Seminars, LLC will do it's best to resolve any complaints quickly and amicably. Participants with complaints have the sole option of filing a complaint with the Florida Association of Certified Public Accountants, the American Institute of Certified Public Accountants, The National Registry of CPE Sponsors, and numerous state, federal, and local business-regulation organizations. Wolcott Aviation Seminars, LLC will do it's very best to insure that no participant has the need to lodge a complaint with any of those licensing or oversight organizations.
Each webinar or repeat-webinar will be updated to include and address current regulations and changes in the tax statutes or regulations prior to presentation. Changes will typically be noted and elaborated upon in the presentation. Updates will include course materials, handouts, and methods of delivery.