Do all aircraft finance companies work the same way?
Properly structuring your purchasing entity can mean the difference between huge tax savings, and the IRS paying you a visit! This is not a time to be a “do it yourselfer” or to hire amateurs. Even your own accountant probably doesn’t have the expertise to properly set up an aviation company that also complies with the FAA. In fact, most likely your accountant will be relieved to hear that you’ve enlisted the help of an Aviation Tax Specialist. A company like Advocate Tax can help you save money with a properly structured aircraft purchasing entity. They’ll help you maximize your tax benefits from depreciation and minimize your sales tax liability. Using SIFL (Standard Industry Fare Levels), an aircraft owner may be able to depreciate the majority of his/her aircraft with legitimate business use. Business use may also come through a leaseback to a flight school or business. Again, an aviation tax specialist will ensure that you’re properly set up to take advantage of the tax benefits y
