News & Analysis as of

Aircraft Tax Planning

Ballard Spahr LLP

Washington State's New Luxury Taxes on Aircraft, Boats, and Vehicles

Ballard Spahr LLP on

As highlighted in our prior legal alert on Washington State’s historic tax increases, the State enacted three luxury taxes aimed at aircraft, boats, and vehicles. This alert addresses all three taxes to help taxpayers plan...more

McDermott Will & Emery

Weekly IRS Roundup September 30 – October 4, 2024

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 30, 2024 – October 4, 2024....more

Falcon Rappaport & Berkman LLP

IRS Announces Audits of Business Jet Usage as Part of Larger Effort to Target High-Income Taxpayers

On February 21, 2024, the IRS announced plans to begin audits on aircraft that may be used for both business and personal purposes. This push is a part of the IRS’s broader focus on improving tax compliance in high-income...more

BakerHostetler

[Podcast] A 30,000 Foot Look at State Taxation of Corporate Aircraft

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Matt Hunsaker highlights some issues that should be considered when purchasing a company jet, including sales tax and property tax....more

McDermott Will & Emery

[Event] 2019 Private Client East Coast Forum - November 21st, New York, NY

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The unique needs of ultra-high net worth families, their family office representatives and other advisers are multidimensional and ever-evolving. Join us November 21 for McDermott Will & Emery’s Private Client East Coast...more

King & Spalding

Renewed Interest in Synthetic Leases - A Refresher and Changes Under the New (ASC 842) Lease Accounting Standard

King & Spalding on

A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most often used in acquisition...more

Holland & Knight LLP

The Family Office: Planning for Private Aircraft Assets

Holland & Knight LLP on

• Family offices are increasingly involved in structuring and managing the ownership or use of private aircrafts for business and personal travel. • The optimal structure will vary depending on a number of factors,...more

Saul Ewing LLP

Tax Reform – Like-Kind Exchanges: Steps for Aircraft Owners to Consider Before the End of 2017

Saul Ewing LLP on

President Trump just signed into law the most significant tax reform legislation since 1986. This legislation, formerly known as the Tax Cuts and Jobs Act (“the Act”), impacts aircraft owners directly. Beginning in 2018,...more

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