- What is Business Aviation?
- Flight Department Administration
- Aircraft Operations
- Professional Development
- News & Publications
- Products & Services
All events will be held at the Hilton San Francisco Financial District, 750 Kearny St, San Francisco, CA 94108 (800) 424-8292 or (415) 433-6600.
Friday, May 2, 2014
- 8:00 a.m. – 8:30 a.m.
- Welcome and Introduction of Key Terms
Presented by: Glenn Hediger, Aviation Financial Consulting, LLC and Scott O’Brien, NBAA
- 8:30 a.m. – 9:00 a.m.
- FAA Regulatory Review: Implications for Tax Planning
Presented by: Kevin Austin, Aero Law Group
- Understand how the various restrictions and exceptions under Parts 91 and 135 of the Federal Aviation Regulations (FARs) affect aircraft operations.
- Learn about options for receiving limited reimbursement for FAR Part 91 flight operations and potential tax consequences.
- Examine the “flight department company trap” and solutions for structuring flight operations to fully comply with FAR Part 91.
- 9:00 a.m. – 9:45 a.m.
- State Tax Planning Opportunities With a California Focus
Presented by: George Rice, Rice & Associates
- Minimize California sales/use tax by learning about exemptions such as the common carrier and interstate commerce exemptions.
- Distinguish between common exemptions and the specific requirements to succeed in achieving the California exemption.
- Examine the relevance of property taxes on aircraft ownership, including specific California property tax apportionment issues.
- 9:45 a.m. – 10:15 a.m.
- Evolving State Tax Issues for Aircraft Owners and Operators
Presented by: Jordan Miller, CenterPoint Aviation Law
- Learn about the latest state tax developments regarding aircraft and analyze other western state tax “hot topics”.
- Prepare for possible scrutiny of aircraft leasing structures by state taxing authorities.
- Utilize challenges in Washington State such as the “Tax Avoidance” rule as a case study for responding to evolving state tax issues.
- 10:15 a.m. – 10:45 a.m.
- Morning Break
- 10:45 a.m. – 12:15 p.m.
- Federal Audit Traps and Solutions for Aircraft Leasing Structures
Presented by: John Hoover, Cooley LLP and Keith Swirsky, GKG Law
- Develop strategies for arguing that business aircraft are “ordinary and necessary” expenses under IRC section 162.
- Recognize the “leasing company trap” under Internal Revenue Code (IRC) section 280F and how it can limit depreciation deductions.
- Review strategies such as grouping to deal with passive loss limitations under IRC Section 469 and hobby loss limitations under IRC section 183.
- 12:00 noon – 1:30 p.m.
- Lunch and Sponsor Tables
- 1:30 p.m. – 2:15 p.m.
- Aircraft Reporting Best Practices for Public Companies
Presented by: Stewart Lapayowker, Stewart H. Lapayowker, P.A. and Alvaro Pascotto, Law Offices of Alvaro Pascotto
- Distinguish SEC requirements for public companies to report aggregate incremental cost of aircraft usage from differing IRS requirements.
- Review specific examples of public company proxy statements to develop best practices for reporting.
- Learn how use of time sharing agreements and the FAA’s Nichols interpretation to seek reimbursement for certain flights.
- 2:15 p.m. – 3:00 p.m.
- Federal Excise Taxes: Implications Beyond Commercial Operations
Presented by: Mark Dennen , Solairus Aviation
- Analyze how federal excise taxes (FET) can have an impact on many Part 91 structures involving compensation or reimbursement.
- Examine potential FET implications for ownership structures involving a single member LLC.
- Learn about the latest FET issues for aircraft management service providers and strategies to respond to possible IRS audits.
- 3:00 p.m. – 3:30 p.m.
- Afternoon Break
- 3:30 p.m. – 4:15 p.m.
- Best Practices for Managing Non-Business Use of Aircraft
Presented by: Jed Wolcott, Wolcott & Associates, PA
- Utilize the standard industry fare level rules to calculate imputed income for complex trips including multiple legs and international operations.
- Understand the final IRS entertainment use regulations and new planning opportunities they may present.
- Examine common questions regarding entertainment use such as calculation methods for deadhead flights.
- 4:15 p.m. – 5:15 p.m.
- Case Study: Gray Areas of Business Aircraft Usage
Presented by: Doug Stewart , AircraftLogs (Moderator) and Joanne Barbera, Barbera & Watkins and Rick Farley, PricewaterhouseCoopers LLP
- Review actual scenarios involving flights that often fall into the “gray area” between business and non-business use.
- Work through each scenario to understand how arrangements such as time sharing agreements and leases affect non-business use calculations.
- Develop best practices for consistently documenting and managing tax implications for complex multi-purpose flights.
- 5:15 p.m. – 5:30 p.m.
- Closing Remarks
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