If your C or S corporation owns or leases an airplane, or if you own a plane yourself and use it for business, my new article makes must reading.
Why? Because the IRS’s final regulations have just been issued and they can have a most beneficial impact on the airplane tax deductions.
You’ll find more than a half-dozen strategies you can use to slash your taxes and keep flying high when you read my new article titled Tax Tips: New Rules Reveal Six Ways to Lower Taxes on Your Personal Use of Your Corporation’s Airplane.
Three ways our fact-filled article can help you:
- We’ll explain the important “Five Categories Of Use.” For IRS purposes, the employee/shareholder use of your corporation’s aircraft falls into one of five distinct categories. And you have to know what they are. No problem. We’ll list and discuss them when you read the full article.
- We’ll tell you how to get a big depreciation break. Three new IRS rules can help you save a lot of money. What are they? We’ll give you all the details and provide an illuminating example when you read the full article.
- You’ll learn a smart reimbursement strategy. Remember this: you don’t want your personal use of your airplane as W-2 income. Why not? Because increased W-2 income causes you to pay more taxes. The way to pay less tax involves making a reimbursement to your corporation. We’ll explain this in detail when you read the full article.