A aviation & planes forum. AviationBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » AviationBanter forum » rec.aviation newsgroups » Owning
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Depreciating aircraft parts, dealing with taxes, etc.



 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #16  
Old May 11th 07, 09:08 PM posted to rec.aviation.owning
Gig 601XL Builder
external usenet poster
 
Posts: 2,317
Default Depreciating aircraft parts, dealing with taxes, etc.

Matt Barrow wrote:
"Ron Natalie" wrote in message
m...
Matt Barrow wrote:
"Andrew Gideon" wrote in message
news On Thu, 10 May 2007 16:18:34 -0700, Robert M. Gary wrote:

What taxable income are you trying to defer with depreciation???
I'm not sure that it's taxable income (which is part of my
problem), but I'm envisioning this asset called a "reserve
account" growing over the years until an overhaul is required.


It's not an asset, it's a pre-paid expense.

The money is "spent", it just hasn't been distributed yet.


As far as taxes in a corporation is concerned, it's an asset.
It doesn't matter that it's been allocated for a particular
purpose, if it's still sitting in the bank account it ain't
spent.


Written against a liability, rather than Earnings.


This is true. If it weren't the case no corporation would ever pay taxes.
They'd just say the money they earned was going to be spent for widgets at
some time in the future.


 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Discussion on dealing with future ADIZ Incursions by light A/C Hank Rausch Piloting 47 May 14th 05 02:33 PM
Book Review: "Dirty Dealing: Drug Smuggling on the Mexican Border",et al; Cartwright Paul Piloting 0 January 5th 05 06:36 PM
FS: Aircraft Instruments Parts Avionics Warbird Parts Bill Berle Home Built 0 January 10th 04 02:20 AM
FS: Aircraft Instruments Parts Avionics Warbird Parts Bill Berle Aviation Marketplace 0 January 10th 04 02:20 AM
How to avoid Aircraft Ad Velorem taxes........... ArtP Owning 6 August 27th 03 08:37 PM


All times are GMT +1. The time now is 08:27 AM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Copyright ©2004-2025 AviationBanter.
The comments are property of their posters.