Money » Taxes, Laws & Finance

July 5, 2016
ILLUSTRATION: JOHN T. LEWIS
he Truth in Lending Act of 1968, requiring “full disclosure of the terms and conditions of finance charges in credit transactions,” was an unlikely inspiration for the FAA to enact a regulation requiring a “truth in leasing” clause in aircraft leases.
July 3, 2016
credit: John Lewis
A company tried to connect private pilots with prospective passengers, but the FAA nixed its plans.
March 9, 2016
credit: John Lewis
Maybe you’re an aircraft owner who’d like to offer transportation to a political candidate you support. Or perhaps you’re a candidate who wants to grab a ride on a friend’s business jet. Either way, you’d be well advised to do some homework first, regarding the federal and state rules that apply to such flights. 
December 6, 2015
Business jet owners have been clever in trying to dream up ways around FAA compensation strictures.
Understand FAA rules before accepting payment for a business jet flight. Compensation for flights is one of the most important concepts to consider when you’re structuring the ownership and operation of a business jet. For the U.S. Federal Aviation Administration, the payment of compensation for air transportation usually makes a flight “commercial,” which requires that it be conducted under a commercial certificate.
November 24, 2015
“Annual depreciation going forward is probably not the  3 and 4 percent people saw for years, but more like 7 percent,” says one aircraft broker.
A global pullback accelerates declines in preowned-aircraft values. After several years of mixed signals and uncertainty, the preowned-aircraft market found its direction, if not its footing, in 2015.
October 24, 2015
Illustration by John T. Lewis
It’s no secret that the FAA and IRS approaches to business aviation differ in important ways. This cleavage is especially evident in their respective treatment of related or affiliated groups of companies.
September 7, 2015
(illustration: John Lewis)
Business aviation is regulated and watched by an alphabet soup of government agencies—FAA, IRS, DOT, SEC, state authorities and others—that don’t see eye-to-eye on key issues. A January 2015 federal District Court decision illuminates an excellent example: the disagreement between the IRS and FAA over who is providing transportation to whom.
July 5, 2015
Buyers who face long waits for a new airplane may consider leasing on a short-term basis. (Illustration: John Lewis)
An aircraft buyer waiting for delivery of his new Gulfstream G650 once complained that the manufacturer “wasn’t promoting instant gratification.” Who could blame him? The scheduled delivery was eight years away. With a wait like that if you don’t have another aircraft that you don’t mind flying for the better part of a decade, you might as well buy one to tide you over.
April 20, 2015
Illustration of pile of paperwork and business jet engine
Governmental agencies demand that aircraft owners maintain voluminous, detailed records. Specialized software can help.
February 24, 2015
Interest rates remain shockingly low today, so you can still lock in a highly attractive fixed rate. (Illustration: Fotolia)
Financing an aircraft means wading through fine print.

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Quote/Unquote

““I guess an airplane is pretty decadent, right? But if anyone has a problem with that, tell them to go f--k themselves, because I will live in that trailer [I own] in Alabama before I give up that f--kin’ airplane. That airplane is, hands down, the greatest luxury a human being could have. There’s nothing that f--king beats it. F--k a yacht.” —musician Kid Rock, when asked to name his most decadent purchase  Source: Rolling Stone   ”

-Kid Rock, musician