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#12
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"Someone with enough money to purchase a high performance aircraft for
cash would have tax accounting resources at his/her disposal to be able to structure the purchase as a business purchase. " I do have enough money to pay cash for a plane but I still can't make it a business expense. My business travel schedule doesn't work well for Mooney flying. I would have to actually make business trips in the Mooney. As I recall, you just document that 51% of your trips for business related. I did incorporate my Mooney but the corp doesn't generate any cash (other than what I put in every month ![]() -Robert |
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