Aircraft Ownership: A Legal and Tax Guide

Paperback
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Author: Raymond C. Speciale

ISBN-10: 0071407642

ISBN-13: 9780071407649

Category: Aeronautical Engineering - General & Miscellaneous

* Offers "how to" information and solutions to the most common legal and tax issues facing general aviation aircraft owners—in layman's terms\ * Flow charts, diagrams, and legal case briefs provide real world scenarios of each discussion\ * CD-ROM contains downloadable forms, agreements, and checklists

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A COMPLETE "PLAIN ENGLISH" GUIDE TO THE LEGAL AND TAX ISSUES FACING AIRCRAFT OWNERSCD-ROM WITH DOWNLOADABLE FORMS, AGREEMENTS, AND CHECKLISTSHere’s everything a plane owner needs to make sense of all the confusing legal and tax issues surrounding aircraft ownership. Written by an experienced lawyer-pilot who is also a certified public accountant and MBA professor, A Legal and Tax Guide for Aircraft Owners uses layperson's language to provide detailed "how to" solutions and thorough explanations of issues involving:* Buying and selling aircraft* Aircraft recordation and registration* Storing and maintaining aircraft* Liability and insurance * Multiple ownership arrangements* Taxes* Aircraft leasingReaders will find insightful coverage of issues that directly impact their ownership rights and responsibilities and have an immediate bearing on compliance, expense, efficiency, safety, and profitability. You'll find IRS and FAA rules simplified and explained; legal tips for leasing your aircraft; advice on how to protect yourself when buying or selling an aircraft; what you should know about your aircraft insurance policy, your hangar lease, and state and local taxes; and much, much more.Packed with flow charts, diagrams, and legal case briefs, and complete with a CD-ROM containing customizable forms, agreements, and checklists, A Legal and Tax Guide for Aircraft Owners belongs on the shelf of every pilot, plane owner, and flight department manager.Raymond C. Speciale is a lawyer and certified public accountant in Frederick, Maryland. He has provided legal counsel to hundreds of aircraft owners and pilots since he began his work as an aviation attorney over 15 years ago.Mr. Speciale is an active pilot and flight instructor (CFII). He has written several booklets and articles for the Aircraft Owners and Pilots Association (AOPA) related to aircraft ownership and taxation issues.He teaches courses in law and accounting at Mount Saint Mary's College in Emmitsburg, Maryland, where he serves on the full-time faculty as an assistant professor. He has been associated with the Law Offices of Yodice Associates (AOPA Counsel) since 1988. Mr. Speciale is an AOPA Legal Services Plan panel attorney.

PrefaceAcknowledgmentsPART 1: BUYING OR SELLING AN AIRCRAFTChapter 1. Buying and Selling An AircraftChapter 2. Entity Choices for Aircraft OwnershipPART 2: RECORDING AND REGISTRATIONChapter 3. Recording Aircraft Ownership and LiensChapter 4. Aircraft RegistrationChapter 5. Aircraft Registration for Non-U.S. CitizensPART 3: AIRCRAFT STORAGE AND MAINTENANCEChapter 6. Hangar and Tie-Down AgreementsChapter 7. Legal Basics of Aircraft MaintenanceChapter 8. AirworthinessPART 4: LIABILITY ISSUES FOR AIRCRAFT OWNERSChapter 9. InsuranceChapter 10. Liability ReleasesChapter 11. Liability for Federal and State LawsPART 5: AIRCRAFT COST SHARINGChapter 12. Aircraft LeasingChapter 13. Multiple Ownership ArrangementsPART 6: TAX ISSUES FOR AIRCRAFT OWNERSChapter 14. Aircraft-Related Business ExpensesChapter 15. Nontaxable ExchangesChapter 16. Tax Implications of Aircraft LeasingChapter 17. State and Local TaxesSELECTED BIBLIOGRAPHYINDEX