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SIFL Tax question for small business owners



 
 
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Old August 22nd 03, 08:17 PM
Dave
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Default SIFL Tax question for small business owners

I'm ready to buy and have finally found good prospects not too far
from me. I'm a small business owner. I've spoken to my accountant
about the tax advantages. He's not a pilot but anything that saves
money is good news to him. I have several clients that are far enough
away to make flying worthwhile. I don't think keeping the business
related use at 25% or more will be a problem. Are there any other
small business owners with airplanes in the $30-100k range that take
advantage of the SIFL formula? Do you feel it's better to own the
plane personally and rent it back to your business?

If the tax code can work for a small business owner like me, it may
make sense to buy a more expensive aircraft.

Dave
 




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