TaxSrv wrote:
"Jon Kraus" wrote:
We set up a Limited Liability Corporation to cover us in
case of an accident....

What liability are you referring to? In the case of an accident,
that
would be potential tort liability, in which case it is the pilot of
the aircraft who gets sued, not just the LLC.

After my friend's accident, his partner was sued by one of the
passengers. His only connection to the accident was a part ownership in
the aircraft. The pax had lost wages well in excess of the insurance
limits.

-Robert