IRS tax forms

February 1, 2007 - 5:05am

Although an article in The Washington Post last month implied that the Internal Revenue Service now sanctions the extensive personal use of company aircraft by owners and employees while the company takes a full deduction for the costs of owning and operating the airplane, several aviation tax attorneys counter that it merely sheds new light on the way the IRS views such matters.

January 31, 2007 - 6:22am

While general aviation interests hailed the tax law that extended the deadline for the 50-percent accelerated bonus-depreciation allowance for business aircraft, the law also contains a provision that severely limits expenses that a company may deduct when employees use an employer-provided aircraft for personal travel.

 
X