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Aircraft Ownership Seminar

Join us on TBD

Please join us on TBD at 7 p.m. in our class room on the 3rd floor. Our meetings usually last between 2 and 2 ½ hours. The outline of topics we plan to cover and discuss are listed below.

In order for everybody to have a chance to participate, we like to limit the attendance at these seminars to about a dozen people. If necessary, we will schedule an additional time for another seminar to accommodate a larger audience. Light refreshments will be served and RSVP’s are required! Please call the office (847) 808-1188 or send an email to dean@windycityflyers.com ASAP to reserve your spot.

Almost everyone seems to have the same initial questions, thoughts and concerns when discussing the idea of owning an aircraft. The particular interests of the group usually helps to guide the conversation which is why a small group works best. There are new tax laws and accounting issues to explore and they effect everyone in different ways. This is a terrific opportunity to get your questions answered without obligation. And you certainly can’t beat the price because its all free!

Below are topics we intend to discuss:

1. PURCHASING

  • What’s the right kind of plane for me
  • New vs used
  • Locating
  • Evaluating
  • Negotiating
  • Inspecting
  • Closing

2. FORMS OF OWNERSHIP

  • Single owner
  • Partnership
  • Fractional
  • Managed Partnership
  • Corporate (Sub-S vs LLC)

3. OPERATIONS

  • Maintenance
  • AD & SB compliance
  • Record keeping
  • Equipment upgrades
  • FAR part 91 vs 135
  • Commercial use: FAA vs IRS

4. LEASEBACK vs PRIVATELY OWNED

  • Operational costs
  • Tax deductions
  • Depreciation
  • Financial analysis
  • What does well in the fleet
  • Which aircraft are needed
  • Non-financial issues/concerns

5. TAXES (and NEW LAWS)

  • Sales tax
  • Expense limitations (179 rule)
  • Capital gains
  • Occasional sale exemption
  • “Delaware” corporations
  • Rolling stock exemption
  • 1031 Like kind exchange

6. MISCELLANEOUS

  • Financing
  • Insurance
  • Management services
  • Consulting services
  • Buying/selling services