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October 14, 2016

NBAA Event To Delve Into Bizcraft Ownership, Ops Setups

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NBAA Event To Delve Into Bizcraft Ownership, Ops Setups

NBAA’s Tax, Regulatory and Risk Management Conference will delve into key IRS code sections that require careful planning when creating business aircraft ownership and operating structures, among other related topics. The two-day event will be held just before the NBAA Convention, on October 30 and 31 in Orlando, Florida.

Tax conference presenter Jed Wolcott, president and owner of Wolcott & Associates, said that the “ordinary and necessary” test, hobby loss rules, passive loss rules and rules for non-business use of an aircraft will be covered indepth during the two-day conference. Other sessions include FAA and DOT regulation compliance, aircraft sales/exports in challenging juridictions, managing non-business aircraft use and managing risk in aircraft transactions and operations.

Meanwhile, aviation attorneys Joanne Barbera of Barbera & Watkins and Stewart Lapayowker of Lapayowker Jet Counsel recently did a webinar to preview their session on the tax and regulatory implications of business aircraft sharing. A more comprehensive version of this panel discussion, which will also include Ryan DeMoor of Amway, will be presented on the first day of the conference in Orlando.