Wolcott & Associates, P.A.’s proprietary aviation tax software, Flight Tax Systems, has made recent feature enhancements to the web-based software. The user-friendly software application is designed for aircraft owners and operators to track the tax-related activities of their aircraft and to provide their tax professionals with the calculations and documentation required for preparing IRS and state tax returns.
Feature upgrades include:
Enhanced Reporting Capabilities for Users with Fractional Aircraft
Flight Tax Systems supports wholly owned aircraft, as well as ownerships with fractional aircraft interests. Users with multiple fractional aircraft interests will find that the software now provides additional reporting options for their fractional aircraft. A video overview describing the feature can be found here.
Improved Flight Document Upload Feature
The document upload feature was redeveloped to provide greater functionality for our users. Users can upload flight documents such as invoices, aircraft logs and more, and associate them with corresponding flights. A video overview of the Document Upload Feature can be found here.
Redefined Flight Entry Screen
Navigating to the passenger data entry screen has been made more efficient through the newly modified flight entry screen, which now allows a more streamlined navigation to the passenger input screen.
About Flight Tax Systems: In late 2012 Wolcott & Associates, P.A. began to market its proprietary aviation tax software, Flight Tax Systems (FTS). The Internet-based software permits owners and their professionals to monitor use of the aircraft to ensure compliance and follows all IRS reporting, deduction and substantiation regulations. FTS assists in maximizing business-use tax deductions. The company is dedicated to providing owners and operators with accurate aircraft flight information for preparing tax returns and defending the aircraft deductions on audit!