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    Webinars Wolcott & Associates, P.A. is a full-service CPA firm with a practice limited to aviation. Our services include preparation of aircraft-related federal and state tax returns, aviation financial reporting, structuring aircraft purchases and sales, and IRS and state aircraft audit defenses.
  • Resource Library

    Cost Disallowance

    IRC § 274(a)
    Entertainment Defined
    IRC § 274 (c)
    Foreign Travel Exemption
    IRC § 274(d)(4)
    Documentation and Substantiation
    IRC § 274(e)(8)
    Expenses for goods or services
    IRC §1.274-2(e)(4) Primary purpose
    Primary purpose is business if business use > 50%
    IRC §267(b)
    Related Parties and Relationships
    IRC §707(b)
    Partner and Partnership Transactions
    Notice 2005-45
    IRS Guidance on Personal Use of Business Aircraft
    Reg 147171-05
    Deductions for Entertainment Use of Business Aircraft
    Rev. Rule 72-111
    Bifurcating Depreciation
    TEI Tax Seminar Presentation - Tax Considerations for Reporting Business Aircraft - 2016-05/17
    Tax Considerations for Reporting Business Aircraft Presentation for TEI Tax Seminar May 17, 2016
    Temporary Treas. Reg. § 1.163-8T(e )
    Debt Refinancing Rules
    Treas. Reg. § 1.274-10 (d)(3)(i)
    Depreciation for Cost Disallowance
    Treas. Reg. § 1.274-10(e)(3)
    Cost Disallowance - Occupied Seat Hours or Miles and Flight by Flight Method
    Treas. Reg. § 1.274-4(d)(2)
    Foreign Travel Exemption
    Treas. Reg. §1.163-8T
    Interest Tracing Rules
    Treas. Reg. §1.274-10
    Entertainment Cost Disallowance
    Treas. Reg. 1.274-9(b) Specified Individual
    Treas. Reg. 1.274-9(b) Specified Individual

    Depreciation

    Depreciation
    Depreciation
    IRC § 168
    Accelerated Cost Recovery System
    IRC § 168(k)
    Special Bonus Depreciation Allowances
    IRC § 179
    Expensing Certain Depreciable Business Assets
    IRS Publication 946
    How to Depreciate Property
    Letter Ruling 8312023
    Green Aircraft
    Treas. Reg § 1.168(k)-1
    Bonus Depreciation
    Treas. Reg. § 1.280F-6
    Listed Property Special Rules and Definitions
    Treas. Reg. § 1.280F-7(b)
    Listed Property Rules

    FAA Regulations

    14 C.F.R §119.1(e)
    Air Carrier and Commercial Operator Certification
    14 C.F.R §61.113)
    Private Pilot Privileges - Pro Rata Share Rule
    14 C.F.R §61.133
    Commercial Pilot Privileges
    14 C.F.R. § 91.501
    FAA Regulation - Large Airplane/Turbojet/Fractional Operating Rules
    14 C.F.R. § 91.501(d)
    FAA Regulation - List of Charged Expenses (2 Times Fuel Rule)
    AC 120-12A
    Common Carriage vs Private Carriage
    FAA Legal Interpretation Johnson
    Wet vs Dry Aircraft Leases - Aug 2011
    Federal Aviation Decisions Interpretation 1993-17
    FAA Guidance on applying FAR Part 91.501

    FET (Flight Department Company)

    Form 720 Instructions
    Instructions on how to fill out federal excise tax Form 720
    IRC § 4261
    Federal Excise Tax Rules for Air Transportation
    IRC § 4262
    Taxable Transportation Defined
    IRC § 4282
    Affiliated Group Excise Tax Exemption
    IRS CCM 2012120026
    FET on Mgt Co Services
    Notice 2005-62
    IRS Notice - Aviation-grade Kerosene

    Flight Tax Systems

    FTS Data Import Template
    A guide to use for file format in order to import flight data into FTS.

    Hobby Loss

    IRC § 183
    Hobby Loss Rules
    Treas. Reg. §1.183-1
    Hobby Loss Regulations
    Treas. Reg. §1.183-2(b)
    Activity for Profit Test (9 Factors)

    Ordinary and Necessary/Primary Purpose

    Expenses for the Production of Income
    Expenses for the Production of Income:absolute
    IRC § 162(a)
    Ordinary and Necessary Internal Revenue Code
    Treas. Reg. § 1.162-2(b)
    Primary Purpose
    Treas. Reg. §1.162-2
    Ordinary and Necessary/Primary Purpose
    Treas. Reg. §1.162-2(a)
    Ordinary and Necessary
    Treas. Reg. §1.162-2(c)
    Spouse related Travel

    Other Federal Tax Regulations

    American Jobs Act of 2011 - Proposed
    Initial proposal to Congress of the 2011 American Jobs Act
    IRC § Sec. 1031
    1031 Exchangeau
    IRC § Sec. 1504
    Affiliated Group Defined
    Job Creation Act of 2010
    Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010
    Publication 463
    Travel, Entertainment, Meals & Cars
    Rev Proc 2011-52)
    Adjusts 2012 Sec 179 for inflation
    Treas. Reg. § 1.469-4
    Grouping Rulesa
    Treas. Reg. § 601.106(g)
    Audit Appeals Refund Limitations

    Passive Activity

    IRC § 469
    Passive Activity Loss Rules
    Rev Proc 2010-13)
    New Grouping Rules Effective January 2010
    Treas. Reg. § 1.469-1T(e)(3)(ii)(A)-(F)
    Passive Activity Loss - 6 Exceptions to Leasing Rules
    Treas. Reg. § 1.469-4
    Definitions of Activity
    Treas. Reg. § 1.469-5T
    Material Participation Rules
    Treas. Reg. § 1.469-5T(a)(1)-(7)
    Material Participation - 7 Tests

    Presentations

    01-14-2016 Webinar Handouts
    Powerpoint slides in handout format
    02-25-16 FTS User Guide to Advanced Features & Reporting - Advanced Attendee Handouts
    Webinar Attendee Handouts
    05-16-13 Webinar Handouts
    Powerpoint slides in handout format
    06-12-13 Webinar Handouts
    Tax Return Preparation for Individual Aircraft Owners
    06-26-2014 Business Use - Individual-owned Aircraft Webinar Handouts
    Powerpoint slides in handout format
    06-27-2013 Webinar Handouts
    Powerpoint slides in handout format
    10-22-2013 NBAA 2013 Tax Issues for Owner Pilots
    NBAA 2013 Presentation
    11-14-13 Webinar Handouts
    Federal Excise Tax Handouts of PowerPoint slides
    11-19-2013 Webinar Handouts
    SIFL Powerpoint slides in handout format
    12-17-2013 Webinar Handouts
    Powerpoint slides in handout format
    2011 Year End Tax Issues
    11-30-2011 Webinar Handouts
    CPE Evaluation Form
    Evaluation Form
    Depreciation Update for Aircraft Used in Business (2011)
    October 5, 2011
    Handouts for January 26, 2012 Webinar
    Passive Activity Loss Limitations
    Handouts for July 9, 2015 Webinar
    Entertainment Cost Disallowance
    IRS Reporting for Personal Use of Company Aircraft
    IRS Reporting for Personal Use of Company Aircraft
    IRS Tax Consequences from Selling Your Aircraft - 07-16-2015
    Webinar 07-16-2015
    Kammerer/Wolcott NBAA Webinar
    Tax Benefits for Business Aviation 2011 (Jan 13, 2011)
    Managing Florida Sales and Use Tax on Aircraft 5/21/15
    Handouts from Strategies for Managing Florida Sales and Use Tax on Aircraft webinar 5/21/2015.
    Presentation - FTS User's Guide To Features and Reports Webinar 2-11-16
    Powerpoint handouts for the webinar
    Presentation Handouts Flight Tax Systems Users Guide to Advanced Features and Reporting Part III
    Presentation Handouts Flight Tax Systems Users Guide to Advanced Features and Reporting Part III 3-10-2016
    Tactics to Survive an IRS Audit
    November 3, 2011
    Trade Show Slide Show Presentation

    SEC Regulations

    Item § 229.402(c)(2)(ix) of Reg. S-K
    SEC Regulation - All Other Compensation
    Item § 229.402(c)
    SEC Regulation - Summary Compensation Table
    Item §229.402 of Reg. S-K
    SEC Regulation - Executive Compensation
    Item §229.402(a)(2) of Reg. S-K
    SEC Regulation - All Compensation

    SIFL

    Announcement 85-113 (1985-31 IRB 31)
    Special Accounting Period
    IRC § 162(m)
    Employee Remuneration - Revenue Code
    IRS Pub. 15-B
    Reporting SIFL to Employees
    Seating Capacity Rule
    Treas. Reg. 1.61-21(g)(12)(i)(B)(2)
    Treas. Reg. §1.61-21(g)(7)(i)-(8)
    Aircraft Multiples and control employees defined
    Treas. Reg. § 1.132-5(m)
    Bona-fide Security Rules
    Treas. Reg. § 1.162-27
    Employee Remuneration - Regulation
    Treas. Reg. § 1.61-21
    SIFL and Charter Rate Regulation
    Treas. Reg. § 1.61-21(b)(6)
    Charter Rate Method
    Treas. Reg. § 1.61-21(b)(6)(ii),(iii)
    Charter Rate Method Examples
    Treas. Reg. § 1.61-21(b)(7)
    Arm's Length Transaction Valuation
    Treas. Reg. § 1.61-21(g)(12)(ii)
    Fifty Percent Seating Capacity Rule - Multi-Leg Flight
    Treas. Reg. § 1.61-21(g)(12)(iii)
    Passenger Seating Capacity Defined
    Treas. Reg. § 1.61-21(g)(4)ii
    Mixed Use Flight - Business
    Treas. Reg. § 1.61-21(g)(4)iii
    Mixed Use Flight - Personal
    Treas. Reg. §1.61-21(g)
    SIFL Rules

    State Codes and Regulations

    DR-15AIR
    FL DOR DR-15AIR For Reporting Sales and Use Tax on Certain Aircraft Purchases
    F.S. § 212.05(5))
    Florida - Maximum tax on purchase of boats
    F.S. § 212.02
    Definitions used in Florida Sales and Use Tax Regulations
    F.S. § 212.05
    Florida Sales, Storage and Use Tax Regulation
    F.S. § 212.05(1)(a)2.f(VIII)
    Florida Sales Tax Penalty
    F.S. § 212.0597
    Florida maximum tax on fractional aircraft ownership interests
    F.S. § 212.0598
    Florida Mileage Apportionment
    F.S. § 212.06
    Florida Sales and Use Tax for Registered Dealers
    F.S. § 212.06(13)
    Sales and Use Tax - Registered Aircraft Dealers
    F.S. § 212.07(9)(b)
    Mandatory Penalties when not collecting Sales/Use Tax in Florida
    F.S. § 212.08(11)
    Florida Sales Tax Partial Exemption - Flyable Aircraft
    F.S. § 212.08(5)(i)
    Florida Sales Tax Exemption - Aircraft Modification Services
    F.S. § 212.08(6)
    212.08 Sales, rental, use, consumption, distribution, and storage tax; specified exemptions.—
    F.S. § 212.08(7)
    212.08 Sales, rental, use, consumption, distribution, and storage tax; specified exemptions.— (7) MISCELLANEOUS EXEMPTIONS
    F.S. § 212.08(7)(ee)
    Florida Sales Tax Exemption - Aircraft Repair and Maintenance Labor
    F.S. § 212.08(7)(ggg)
    Florida Sales Tax Exemption - 21 day rule for Non-Residents
    F.S. § 212.08(7)(hhh)
    Florida Sales Tax Exemption - Fractional aircraft ownership programs
    F.S. § 212.08(7)(rr)
    Florida Sales Tax Exemption - Equipment used in aircraft repair and maintenance
    F.S. § 212.08(7)(ss)
    Florida Sales Tax Exemption - Aircraft used by Part 121 and 129
    F.S. § 212.11(1)(b)
    Florida Tax Return Guidelines
    F.S. § 213.12(2)
    213.12 Certain state-chartered financial institutions; immunity from certain state and local taxes.
    F.S. § 222.17
    Florida Domicile Declaration
    F.S. 212.08(3) Certain Farm Equipment
    Exemption for Certain Farm Equipment
    FL Form GT-500002
    Suggested format for Affidavit for Exemption of Aircraft Sold for Removal from the State by a Nonresident Purchaser
    FL Rule 12A-1.007
    Florida Sales and Use Tax Rules for Aircraft
    FL Rule 12A-1.007(1)(b)1
    Florida Sales Tax: Trade-In Allowance Rule
    FL Rule 12A-1.007(10)(g)1
    6% of 1% Sales Tax rule for resellers:absolute
    FL Rule 12A-1.007(14)(b)1
    Foreign Military Personal Use Tax Exemption - Aircraft
    FL Rule 12A-1.007(2)(a)
    12A-1.007 Aircraft, Boats, Mobile Homes, and Motor Vehicles. (2) Purchases Outside Florida.
    FL Rule 12A-1.056
    Rules for Florida Dealers submitting sales and use tax.
    FL Rule 12A-1.071
    Rentals, Leases or License to Use Tangible Personal Property
    FL Rule 12A-1.071(20)
    Florida Sales Tax: Rental of Aircraft:absolute
    FL Rule 12A-1.071(21)
    Florida Sales Tax: Charter of Aircraft
    FL Rule 12A-1.071(22)
    Florida Sales Tax: Flight Instruction
    FL Rule 12A-1.071(23)
    Florida Sales Tax: Student Pilot Solo Flights
    FL Rule 12A-1.071(4)
    Florida Sales Tax: Lessee removes aircraft from Florida
    FL Rule 12A-1.074
    Sales and Use Tax - Trade Ins
    FL Rule 12A-1.091
    Florida Use Tax
    FL Statute 220.151(2)(c )
    Apportionment; methods for special industries
    Florida Tax Reporter 60-020
    Application of Sales and Use Tax in Florida
    Florida Transportation Standard Industry Guide
    Sales and Use Tax guide for air carriers, vessels and trucks
    Form DR-5
    Instructions for completing the Application for Consumer's Certificate of Exemption (Form DR-5)
    Form GT-800008
    Florida Sales and Use Tax Guide on Aircraft Owners and Purchasers
    LTA 11A-098 (Redacted)
    Letter of Technical Advice
    Sales and Use Tax on Boats Information for Dealers and Brokers
    Tax rules and exemptions
    TAA No. 96A-038
    Technical Assistance Advisement - Florida DOR advisement on sales and use tax for buses leased for cross-country tours
    TIP No. 02A01-09)
    Inadvertant Sales and Use Registration Error Relief
    TIP No. 10A01-11
    June 2010 New Florida Guidelines on Aircraft Exemptions

    Tax Court Cases

    American Aircraft Sales Intn'l vs FL DOR
    Florida DOR Final Order 97-25-FOF
    Campbell vs Commissioner
    Profit Motive for Leasing an Aircraft to a Related Party
    Candelaria vs. United States
    Passive Activity Loss and Grouping
    Carl M. Worley, TC Memo 1980-51
    Lack of profit motive for aircraft leasing activity
    Cornfeld vs Commissioner
    Hobby Loss and Profit Motive
    Douglas TC Memo 2011-214
    Depr: IRS Placed in service rules
    Dunn vs Commissioner
    Grouping, Ordinary and Necessary, Trade or Business Deductions
    Frank vs Commissioner
    Passive Activity - Aircraft Rental
    Glick vs United States
    Case involving Code Section 469 and
    Kelly vs Commissioner
    Passive Activity and Aircraft Leasing
    Kenvill vs United States
    Passive Activity and Aircraft Charter Activity
    Knudtson vs Commissioner
    Personal Use of Business Airplane/training
    Kurzet vs Commissioner
    Ordinary and Necessary/Personal Use of Aircraft
    Lake Mead Air v US
    Excise Tax Not Due for Tour Flights
    Louismet vs Commissioner
    Hobby Loss and Aircraft Charter
    Midland Financial Co. & Subs vs Commissioner
    Cost Disallowance and Employee Fringe Benefits
    Morton vs United States (Hard Rock)
    Ordinary and Necessary/Depreciation Deduction/Like-Kind Exchange
    National Bankcorp of Alaska, Inc vs Commissioner
    Cost Disallowance and Employee Fringe Benefits
    Noyce vs. Commissioner
    Ordinary and Necessary
    O’Larey v. U.S.A. 1963
    O’Larey v. U.S.A. 1963
    Petit Jean Air Service vs United States
    Excise Taxes - Transportation by Air
    Rabinowitz vs Commissioner
    Hobby Loss/Profit Motive - Aircraft Charter Company
    Richardson vs Commissioner
    Ordinary and Necessary
    Rosenblatt vs Commissioner
    Hobby Loss/Profit Motive - Aircraft Rental
    Sartor vs Commissioner
    Ordinary and Necessary/Flt Training
    Schumacher vs Commissioner
    Passive Activity Loss and Ongoing Concern
    Sharp v. U.S.A, 1961
    Sharp v. U.S.A, 1961
    Shaw vs Commissioner
    Passive and Nonpassive Activites
    Snyder v. Commissioner, 1975
    Snyder v. Commissioner, 1975
    Strangeland vs Commissioner
    Material Participation - Airplane Rental Operation
    Sutherland-Lumber-Southwest vs Commissioner
    Cost Disallowance and Employee Fringe Benefits
    Tulane M. Peterson, TC Memo
    Lack of substantiation for business flights
    Weekend Warrior Trailers, Inc. vs. Commissioner
    Lack of adequate aircraft records and business use substantiation
    Wigfall v. Commissioner, 1982
    Wigfall v. Commissioner, 1982