In addition to the federal and state tax issues addressed in prior sessions, this session will focus on tax issues with which many flight department managers become familiar only after they are deeply involved in a tax audit. Group participants will learn how to identify key issues related to passive activity loss limitations and hobby loss rules, which could severely affect aircraft utilization or timing of losses in connection with business aircraft, what constitutes “ordinary and necessary use”, and reducing overall audit exposure. Our presenters will also use their experiences in representing aircraft owners and operators involved in tax audits to help participants better plan their operations to avoid passive loss limitations.
Seminar Information
Date Presented:
June 26, 2012 1:00 PM Eastern
2 hours
Advanced Tax Topics: Issue-Spotting & Recordkeeping
Speaker Information
Sue Folkringa   [ view bio ]
Jed Wolcott   [ view bio ]
Individual topic purchase: Selected
NBAA Member Price:$99.00
Non-Member Price:$149.00