wrote:

I am self employed and from all these comments, the least I see is
that I can use it for business transportation - just like travel
expense deduction on a car. If I claim no more deduction than
equivalent airlines expenses I don't see how IRS would object. I use
about 5gal/hr at 125kts IAS in my SQ2000 canard which can cruise even
faster at higher altitudes. Considering straight line advantage over
autos and waiting period at airports the fuel expenses are as good
compared to car and cheaper than airlines - and I already got the
bird.

Last I knew, you had to use actual expenses, not an "equivalent"
expense. The only exception is road vehicles which have the mileage
based deduction to simplify things. I don't recall ever reading a
similar arrangement for aircraft so I believe you would have to track
actual expenses pro rated to your business use vs. personal use.
Definitely a question to pose to a good tax accountant or lawyer before
filing your return.


Matt