Aviation and Airlines

Owners and private and industry aircraft are subject to a challenging array of tax issues. Our clients include aviation support companies, air taxi operators, corporate flight departments and foreign owners of US registered aircraft. The team has a wide array of experiences that helps clients make the most of these valuable assets.

Private owners

A myriad of issues can impact the tax liability of owners, ranging from multi-state taxing structures, financial reporting, mixed-use income and structuring for purchases and sales.

We work with owners to help them understand state sales and use tax and the impact of individual, joint and fractional ownership structures. In addition, our Accounting Intelligence team provides outsourced bill payment services for vendors and suppliers, payroll and 1099s for crew and contractors, account reconciliation and cash flow analysis, as well as advice on entertainment use, maintenance program reporting and crew expense reports.

Hobby-loss rules, 1031 exchanges and depreciation can all impact a private owner’s tax liability. Thoughtful advice and guidance can make a difference.