Airplanes and Tax--anyone have specific experience

The plane is hangared in NJ, I'm a NY resident.

Evan

Ron Rosenfeld wrote in message . ..
On 28 Jul 2003 05:43:09 -0700, (epsalant) wrote:

I am thinking about buying a new plane and using it for business. I
have been advised to use advocate tax (www.advocatetax.com) a group of
CPAs serving the aviation community and am wondering if anyone who has
used them can give some feedback as to how good a job they did or did
not do. Are they worth their fees? Any other feedback? Anyone get
audited using their services? Did they help?

Thanks.

They *may* be more knowledgeable -- I have no direct experience. But when
I was leasing my aircraft to my business, I found my regular CPA to be
knowledgeable about the issues, and I was never audited on that (or any
other issues).

Where are you located?


Ron (EPM) (N5843Q, Mooney M20E) (CP, ASEL, ASES, IA)

I don't know about this group but AOPA has a tax guide that may be of
interest to you.

Mike
MU-2


"epsalant" wrote in message
om...
I am thinking about buying a new plane and using it for business. I
have been advised to use advocate tax (www.advocatetax.com) a group of
CPAs serving the aviation community and am wondering if anyone who has
used them can give some feedback as to how good a job they did or did
not do. Are they worth their fees? Any other feedback? Anyone get
audited using their services? Did they help?

Thanks.

On 30 Jul 2003 07:23:37 -0700, (epsalant) wrote:

The plane is hangared in NJ, I'm a NY resident.

Evan

Well, my accountant is in Massachusetts (Boston). You should be able to
find someone knowledgeable closer.


Ron (EPM) (N5843Q, Mooney M20E) (CP, ASEL, ASES, IA)

The plane is hangared in NJ, I'm a NY resident.

Exactly my situation, too . . . (except I can't afford a hangar) G

My plane is owned by a New Jersey S Corp (I own all the stock) and my business
(a New York sole proprietorship) leases the plane from my Corp. I have an
excellent accountant, and he seems to work things out to my best advantage.


www.Rosspilot.com