Maximizing Federal Deductibility
With the proper planning, your aircraft can be not only an invaluable business asset, but also a legitimate source of federal deductions. We will guide you through the process of structuring your aircraft ownership and use in a manner that seeks to maximize your deductions while complying with federal and state regulations.
1031 Like-Kind Exchanges
By utilizing a like-kind exchange, it is possible to avoid recapturing previous depreciation when selling one aircraft and purchasing another. Our attorneys and accounting staff are well versed in the various iterations of the like-kind exchange transaction and will work with you to simplify what could otherwise be a very complex transaction.
We take care to design all of our clients’ ownership structures in a way that best comports with the provisions of the Internal Revenue Code, but in the event of an IRS audit, we offer audit defense, through the administrative process, at no additional charge as part of our comprehensive engagements. Additional audit defense coverage can also be added to our other engagements as well.