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Aircraft in Corporation or LLC?



 
 
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Old December 10th 04, 12:48 AM
C J Campbell
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"Harry Shin" wrote in message
...
Hi Guys,

I was wondering if anyone has their aircraft in a Corporation or Limited
Liability Company? If so, can you write off maintenance/hangar costs (vs
State corporation fees), and also protect your personal assets more
effectively?


My airplanes are owned by an S-Corp.

Since I am a professional pilot and flight instructor, lease my plane for
charters, and pay the same rent that I charge others when using it for
personal travel, it is easy to demonstrate the business purpose of the
airplane.

Your mileage may vary. See your professional tax advisor.


 




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