Aircraft Financing

"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

"Peter R." wrote in message
...
Chris Schmelzer wrote:

In article .com,
"Robert M. Gary" wrote:

Its amazing to me that some people finance their personal aircraft. The
monthly costs associated with owning an aircraft are so massive I can't
imaging servicing a loan on top of that.

-Robert, M20F

Forgive me for not being rich!

Robert indicated that he *cannot* imagine servicing a loan on top of
monthly ownership costs. Doesn't come across as rich to me. rimshot

At least one very wealthy person I know finances his aircraft because
owning an aircraft is a large tax deduction for him (in the US) and
because
he is able to receive a larger return on his current capital than the cost
of financing.

I think he (Chris ?) was confusing "personal aircraft" with one owned just
for pleasure trips, not for business where it's a most valuable tool.


--
Matt
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Matthew W. Barrow
Site-Fill Homes, LLC.
Montrose, CO