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Afclogo

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TAX REFORM AND PASS THROUGH ENTITIES §199A: PLANNING FOR PROFESSIONAL PRACTICE
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2019 TAX SEASON CHAOS: DISCLOSURE? DON'T FILE AN UNCERTAIN TAX RETURN WITHOUT IT
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QUALIFIED OPPORTUNITY ZONES: BRAND NEW PROPOSED REGULATIONS ROUND 2
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2020 ANNUAL FEDERAL TAX SEASON UPDATE
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PRESERVING YOUR CHALLENGES UNDER THE ADMINISTRATIVE PROCEDURES ACT
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A PRIMER ON THE EFFECTIVE USE OF EXPERTS IN TAX COURT CASES
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Free cpece webinars
Tax Accounting for Private Aircraft

TAX ACCOUNTING FOR PRIVATE AIRCRAFT

Cost Free
CPE Credits 1.0 hour
CE Credits 1.0 hour
Course Id# - HURS9-T-00588-20-O
Subject Area Taxes (Federal Tax)
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

Private aircraft used in a trade of business pose a myriad of rules and regulations to comply with, not least of all are the tax rules.  Business use aircraft are Listed Property under Section 280F, facilities for purposes of applying entertainment limitations and transportation assets with a high likelihood of providing taxable transportation fringe benefits. This course will take a 30,000-foot view of the major income tax reporting issues that arise when a business owns, leases or charters private air transportation.

Learning Objectives:


  • Understand the various types of private air transportation and ownership options.

  • Recognizing competing regulatory stakeholders like the FAA.

  • Aircraft as depreciable listed property and the special rules for business use testing.

  • Reporting personal/non business use by owners and employees and their guests.

  • Income recognized by owners and employees.

  • Reimbursements to the business and the terrible consequences.

  • Reporting to other tax and non-tax regimes.

  • Calculating deduction limitations for entertainment use.

  • Learn differences in reporting based on the business’s tax return filing.

  • Other notable changes to aircraft tax reporting under the 2017 TCJA.

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Afclogo

Glenn has over 25 years in general aviation where he has held tax, accounting and government affairs roles at Dassault Falcon Jet; client consulting responsibilities at RSM, US; and now as founder and President of Aviation Financial Consulting (AFC).

Frequently Asked Questions
  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • Multiple attendees: In order to receive CPE for multiple attendees, ensure that at least one person signs up for the webinar. At the completion of the webinar a proctor form is provided. Alternatively, you may also login to your account following the webinar and click on the MY ACCOUNT button where you will find a link to the proctor letter.
Handout Materials
Presentation Slides
Nasba

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

Irs

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Presenter

Afclogo
The Mission of Aviation Financial Consulting, LLC is to provide the general aviation community with the unique value of the Aviation CPA in tax and accounting, consulting and compliance with regard to; federal excise taxes, state sales taxes, personal/entertainment use income and deduction compliance, SEC reporting, GAAP tax accounting and acquisition/disposition planning.