These October 2012 NBAA Annual Tax, Regulatory, and Risk Management Conference Recordings feature the following hot topics:
  • The latest information on Federal Excise Tax (FET) applicability to aircraft management company arrangements
  • Strategies for minimizing entertainment use disallowances in light of recent IRS final rules detailing deduction limitations for certain flights
  • Insights into recent FAA legal interpretations on cost reimbursable operations under FAR Part 91
  • Tips and tools for complying with the European Union Emissions Trading Scheme (EU ETS) and changes to aircraft importation rules in the EU


This conference content is intended for a wide variety of professionals, including flight department personnel, charter operators, schedulers, dispatchers and other aviation professionals, as well as business managers, chief financial officers, accountants, tax specialists, lawyers and anyone who has an interest in aviation tax, operational and regulatory issues.
Seminar Information
Seminar Date:
October 28, 2012
Background and Basics: FAA Operational and Regulatory Issues
  • Review of key differences between Parts 91 and 135 of the Federal Aviation Regulations (FARs)
  • Overview of limited cost reimbursement options available under Part 91
  • Introduction to tax and regulatory issues that may arise from certain aircraft operating structures
Speaker Information
Gary Garofalo   [ view bio ]
Background and Basics: Personal Use-Imputing Income and Deduction Limitations
  • What is meant by “personal use” of an aircraft?
  • How does the IRS value aircraft personal use for fringe benefit purposes?
  • Status of the deductions disallowance rules including guidance and audit activity
  • Strategies for increasing aircraft related deductions in light of the disallowance rules
Speaker Information
Joanne Barbera   [ view bio ]
Background and Basics: Federal Excise Taxes
  • How is Federal Excise Tax (FET) calculated for domestic and international charter flights?
  • Review of certain Part 91 cost reimbursable operations that may be subject to FET
  • Overview of potential FET applicability to aircraft management company arrangements
  • What is the IRS looking for in determining who is in possession, command and control of a flight?
Speaker Information
Mark Dennen   [ view bio ]
Background and Basics: Ordinary and Necessary Use, Hobby Losses, Passive Losses, and At-Risk Rules
  • How does the IRS define ordinary and necessary use?
  • Why are hobby losses an issue for aircraft owners and how does the IRS determine hobby losses?
  • Who do passive loss rules apply to and how do owners use leasing exceptions and grouping elections?
  • What are at-risk rules and how can owners avoid concerns in this area?
Speaker Information
Alvaro Pascotto   [ view bio ]
Jed Wolcott   [ view bio ]
Understanding the IRS Final Regulations on Entertainment Use
  • Review of the key differences between the proposed and final regulations
  • Discuss strategies taxpayers can implement to minimize their entertainment use disallowance
  • Review best practices to prepare for an IRS audit regarding entertainment use
Speaker Information
John Hoover   [ view bio ]
Ruth Wimer   [ view bio ]
Advanced Personal Use: Aviation Reporting for Public Companies
  • Review the aviation reporting processes for a public company
  • Summarize the proxy reporting requirements for the SEC
  • Explain the linkages between proxy reporting and IRS requirements
  • Discuss practical solutions to common accounting challenges and other tips
Speaker Information
Doug Stewart   [ view bio ]
Tax Depreciation Update
  • An overview on requirements for and methods of tax depreciation
  • Bonus depreciation rules in effect for 2012
  • The effect on repairs and overhauls under the new IRS capitalization regulations
Speaker Information
Glenn Hediger   [ view bio ]
FAA/DOT Regulatory and Operational Issues
  • Overview of operations under parts 91 and 135, including the role of management companies and charter operators
  • Permissible charges and reimbursements under 91.501, including affiliated company operations, time sharing, interchange agreements and joint ownership
  • What is a flight department company and why should it be avoided?
  • Update on FAA policy changes regarding non-citizen trusts
Speaker Information
David Hernandez   [ view bio ]
Eileen Gleimer   [ view bio ]
State Tax Strategies and Resources
  • Review of the various methods states use to tax ownership, operations and maintenance of business aircraft
  • Nexus and use tax issues to consider when making frequent visits to a state
  • State tax planning strategies to mitigate taxes when buying or selling an aircraft
  • Using the NBAA State Aviation Tax Report to stay current on tax policy
Speaker Information
Phil Crowther   [ view bio ]
George Rice   [ view bio ]
International Operational and Tax Issues: Focus on the European Union including Value Added Taxes and the EU Emissions Trading Scheme
  • EU-ETS: An update and information on Eurocontrol ETS resources for aircraft operator
  • EU Value Added Taxes: Impact on U.S. operators and information on potential solutions
  • Operational and Tax Considerations for U.S. Operators in Europe: EASA rule changes and their effects on U.S. operators and crew
Speaker Information
Mark Byrne   [ view bio ]
Armando Cairoli   [ view bio ]
Stewart Lapayowker Esq.   [ view bio ]
Aoife O'Sullivan   [ view bio ]
Lasse Rungholm   [ view bio ]
Graham Williamson   [ view bio ]
Advanced FET: Issues for Management Companies, Charter Operators and Brokers
  • Explanation of the key IRS revenue rulings on FET applicability to management company arrangements
  • Analysis of the IRS Chief Counsel Advice (CCA) on management companies
  • Review of industry efforts to reverse the CCA and obtain clear guidance on FET applicability
  • Recommendations to minimize FET risk
Speaker Information
John Hoover   [ view bio ]
The Aircraft Transaction: Buying and Selling Traps and Best Practices
  • Up to date and current strategies necessary to prepare for the purchase or sale of an aircraft in today's marketplace
  • Analysis of current trends in the aircraft market, including international transactions and aircraft title insurance
  • Checklist strategy for completing an aircraft transaction, including details from aircraft documentation to state and local tax compliance
Speaker Information
Cliff Maine   [ view bio ]
Keith Swirsky   [ view bio ]
Individual topic purchase: Selected
Products
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NBAA Member Price:$399.00
Non-Member Price:$599.00