Tax Information
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Maximize Your Tax Deductions Using The IRS’s "Two Business Location Rule"

Maximize Your Tax Deductions Using The IRS’s "Two Business Location Rule" by Collin Almeida If you’re like most Americans, your automobile is one of your biggest expenses. Gas, insurance, maintenance, and licensing all add up to a generous portion of the average person’s income, not to mention the actual cost of buying or leasing a vehicle. Wouldn’t it be wonderful if you could write-off a co. . .

CAN YOUR AIRPLANE MAKE YOU MONEY?

If you can view your airplane as a "tool" and you've got income to support an airplane payment. . . a "leaseback" may be right for you! A leaseback is an arrangement in which an individual purchases an airplane and allows a flight school to manage and operate the airplane in his or her flight school. Properly structured, a "win, win, win" situation is created. Win #1: A flight school, which is. . .

Secrets the IRS Does Not Want You to Know

Secrets the IRS Does Not Want You to Know by Collin Almeida For average Americans, taxes are the single largest bill they will pay. Almost 40% of every working person’s wages go to taxes: that’s more than most people pay in utilities, rent, car loans, or education expenses. And while the burden of most bills can be lessened by working harder and earning more money, the tax liability only in. . .

How to Audit-Proof Your Business

How to Audit-Proof Your Business By Collin Almeida Police and auditors have one thing in common: they make even the most honest, law-abiding citizens nervous. After all, who hasn’t felt their heart jump at the sound of a police siren close behind them even if they are obeying all traffic rules? Generally, the same feeling comes over people when the topic of an IRS audit arises. Most taxpayer. . .

The Benefits of Employing Your Children

The Benefits of Employing Your Children by Collin Almeida How many times a week do you hear, "Mom, I need a new pair of shoes!" or "Dad, can I have money to go to a movie?" Not to mention the cost of school supplies, braces, and college tuition that haunt every parent. If you’re like the average parent, you probably spend several thousand dollars a year providing for all the needs and wants . . .

AIRCRAFT OWNERSHIP: IS THE TIME RIGHT?

In the hours and days immediately following the tragic attacks on America of 9/11, there was much speculation about the effects on the general aviation industry. While the events of September 11, 2001 have had a significant impact on the economy as a whole, sales of personal aircraft in Michigan have experienced a surprising boost. Certainly, the convenience of personal transportation has playe. . .

10 Myths of Aircraft Ownership

Can't afford one? Can't justify one? Don't like that Salesperson? Read on and we'll dispel the top 10 myths of aircraft ownership! 1. Only the rich can afford one. . . Not so! Many aircraft owners are earning moderate incomes. How do they do it? Mostly through proper planning and a thorough education prior to making their purchase. You can learn about many aspects of purchasing an airpl. . .

Video Flying!

It's almost impossible to keep up with changes in technology and in today's aircraft the changes are no exception. Just about every aircraft manufacturer has announced new and exciting improvments that all speak to increased safety and situational awareness. In case you've missed the news at Cessna, let me bring you up to date. First, a bit of history: History Radiotelephone (two way . . .

Can One Airplane Do it All?

Probably not, however you can own a plane that will accomplish most of what you'd like it to do. First you must ask yourself the following questions: 1. How will I be using this airplane? Business Flying myself from point "A" to point "B" Flying myself and a couple of employees Flying customers Personal Flying to a 2nd home, either up north or in the south Vacationing with my airplane Visiting . . .

ADDRESSING SAFETY WITH NEW AVIONICS

"How safe is it?" Along with "How much does it cost?" this is a question we often hear when someone is considering flight training as an option for depleting his or her discretionary income. Our industry has experienced a marked reduction in overall accidents and statistically, a 27.8% reduction in the most recent 7 years! During this same time period General Aviation fatal accidents dropped 32. . .

10 Best Ways to Justify Your Airplane Purchase

------------------------------------------------------------------------------ For those of us who've caught the "aviation bug" finding a way to justify the purchase of an airplane becomes an all consuming mental task. Make this task simple by choosing the appropriate reasons from the list below: 1. The airplane will make money for me. This one actually works! Learn about leasebacks and/or u. . .