by Jed Wolcott, A guide for structuring ownership and reporting income and deductions for aircraft used in business. Includes sections on depreciation and tax-related comparisons between single and multi-member LLCs, S-corps, and individual aircraft ownership. Discusses leasing to flight schools and charter operators. Includes strategies for dealing with hobby loss rules, partial business/partial personal use, passive loss issues, at-risk limitations, and related topics.
by Jed R. Wolcott, A how-to guide to understanding the IRS rules and tax return reporting of SIFL (Standard Industry Fare Levels), fair-market charter-rate, and primary-purpose reporting for the employee and guest non-business use of company aircraft. Chapters discuss such elements as the 50% seating capacity rule, and SIFL rules for international flights in excess of seven days. The entertainment cost disallowance chapters include the formulas for computing the disallowance on company aircraft, discusses strategies for reducing the disallowance, and IRS record keeping requirements.
by Jed R. Wolcott, This guide describes how to construct and use a computer spreadsheet application for tracking SIFL imputed tax benefits and the American Jobs Creation Act entertainment cost disallowance limitations for the non-business use of company aircraft. The guide includes formulas for making the individual flight calculations, as well as tracking the flight data during the course of the year and totaling at year-end.
You can add one-on-one telephone or in-person consultation with Jed Wolcott to any purchase of one of our reports. Have your questions answered, and special circumstances addressed. A half hour of consultation for $300. Multiple calls okay providing they do not exceed the total time allotted.
You can add one-on-one telephone or in-person consultation with Jed Wolcott to any purchase of one of our reports. Have your questions answered, and special circumstances addressed. A full hour of consultation for $425. Multiple calls okay providing they do not exceed the total time allotted.