Webcast overview
Interest in private airplane ownership has increased significantly over the years. Some of the most common reasons include ease and flexibility of travel, coupled with the potential for increased security and privacy. Recent COVID-19 related concerns have only served to increase the interest in private airplane travel.
Before entering into a transaction to own and operate a private airplane, there are several critical tax items to consider. KPMG LLP (KPMG) is pleased to invite you to a TaxWatch for a discussion of such items, including with respect to the following:
- Review of the special rules regarding tax depreciation expense, including 100% bonus depreciation
- Summary of the potential loss limitations which may be applicable to losses from airplane ownership
- Considerations around imputing income to employees for the personal use of an airplane
- Sales and use tax considerations in the acquisition and disposition of aircraft
- Considerations around the application of Federal excise taxes on air transport to private air travel
Please join us for what promises to be an insightful and informative webcast.
