Aircraft owner buys a small plane
Dec 08, 2021OUTCOME: Pilot and airplane are well protected
A local pilot wanted to purchase a privately-owned airplane. The pilot wanted to optimize the tax consequences and cover the new airplane with appropriate insurance. The aircraft is used partly for bus ... iness and partly for recreation, so a legal holding structure was needed to accommodate the business use. The client also needed guidance on accounting methods, insurance types, and FAA tail number registration.
