Kerry Lynch stepped into the role of editor of the&nbsp;Aviation International News&nbsp;monthly magazine in May 2022 after serving with&nbsp;AIN&nbsp;for eight years. She joined&nbsp;AIN&nbsp;in December 2014 as a senior editor covering Washington and business aviation news. She has also served on Convention News teams, including as editor of&nbsp;HAI Convention News. Lynch previously spent 25 years with Aviation Week. During her time there, she reported for and later steered&nbsp;The Weekly of Business Aviation, oversaw business aviation content on the&nbsp;Aviation Week Intelligence Network, served on the&nbsp;Show News&nbsp;staff, and held roles as the Washington columnist for&nbsp;Business &amp; Commercial Aviation&nbsp;and&nbsp;Overhaul &amp; Maintenance&nbsp;monthly magazines. In 2021 she was honored with the National Business Aviation Association Platinum Wing Award for lifetime achievement in journalism and was the 2004 recipient of the National Air Transportation Association’s Aviation Journalism Excellence Award. She also has been a recipient of an Aerospace Media Award for business aviation (2022) and NBAA Gold Wing Award (2003, 2024). Lynch graduated from The Ohio State University with a bachelor of arts in journalism.

Editor, AIN monthly magazine

Kerry Lynch

While the CARES Act payroll and loan provisions in the U.S. have received considerable attention within the industry, less highlighted measures surrounding tax treatment stand to help with business aircraft sales, according to the International Aircraft Dealers Association (IADA).

 


IADA pointed to the CARES Act reinstatement and extension of net operating loss (NOL) carryback, enabling companies to carry back the current-year NOL up to five years ago. Under the NOL carryback measure, some buyers might be able to purchase an aircraft in 2020, take an income loss through 100 percent bonus depreciation, and receive a refund on taxes paid for income for years dating back to 2015.

 


"We appreciate that Congress and the Administration stepped up to the recognition that tax implications for companies incurring losses in 2020 can be an important part of the overall economic recovery, including preowned aircraft, going forward," said IADA executive director Wayne Starling. "Now with more advantageous NOL provisions under the CARES Act, we are better positioned to assist companies that may be suffering this year from the economic shutdown, but would still like to acquire another aircraft in 2020."

 


The NOL carryback had expired in 2017, but the CARES Act renewed it only through&nbsp;2020, Daniel Cheung, of Aviation Tax Consultants, said <a href="https://www.crowdcast.io/e/iada-presents--industry/register?utm_source=IADA%20Thanks%20Congress&amp;utm_campaign=IADA%20Thanks%20Congress,%20Administration%20for%20Tax%20Incentive&amp;utm_medium=email&amp;session=1">during a recent&nbsp;IADA webinar</a>. However, the CARES Act also applies the carryback loss to 2018 and 2019, which could apply to some companies that may have purchased aircraft in those years, he added.

 


Suzanne Meiners-Levy, of Advocate Consulting Legal Group, told webinar attendees that the ability to carryback five years&nbsp;could be particularly beneficial since the corporate tax rate was still 35 percent five years ago. The 2017 Tax Cuts and Jobs Act changed that to 21 percent.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

IADA: CARES Act Tax Measure Could Boost Aircraft Sales

The CARES Act renewed the NOL carryback through 2020, opening the possibility for aircraft buyers to receive tax benefits on aircraft purchases.

2024 Corporate Aviation Leadership Summit

Matt Thurber

News and information on safety procedures and concerns.

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

Decision support system helps pilots assess risks up to 14 days ahead of planned flight

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News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

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UK group says it will complete Valo eVTOL’s critical design review this year 

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Buyers urged to seek guidance, consider financing before finding an aircraft

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News and issues relating to civil and military unmanned aircraft systems (UAS), unmanned aerial vehicles (UAVs) and remotely piloted aircraft systems (RPAS) of all kinds and sizes, including those used for intelligence, surveillance and reconnaissance (ISR), combat (unmanned combat air vehicles, or UCAVs), law enforcement, research and other applications. Of particular focus is the FAA's planned integration of UAS into the U.S. national airspace system.

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News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

County changed its rules on time spent in California

L.A. County Tightens Tax Rules on Out-of-state Aircraft

Overall preowned transactions rose 11.2% in second quarter

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News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

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