#351 - Preston Holland - CCO @ FLYING Finance - Private Aviation 101
The Fort
Navigating Tax Implications and Ownership Choices in Private Aviation
An in-depth analysis of the tax implications when buying a private plane for business, focusing on the ability to write off the entire cost in the first year if used for business more than 51% of the time. The chapter explores transitioning from chartering to ownership, considering factors like depreciation, flight frequency, and financial comparisons. It also delves into the impact of ownership on pilots' work-life balance, understanding mission profiles, and optimizing costs through concepts like dead legs and empty flights.
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