Flight Tax Systems (FTS) is an automated tax reporting tool that enables you to…
- Maximize tax benefits and deductibility of business aircraft
- Minimize tax liabilities and unnecessary aircraft expenses
- Navigate complex tax regulations and compliance issues and defend your aircraft on audit!
The Internal Revenue Service has specific rules for reporting business and non-business use of aircraft. States also have specific rules that must be followed when deferring or reducing sales and use taxes. Failure to follow the reporting rules can lead to loss of deductions and unnecessary tax expense. Flight Tax Systems was designed by industry recognized aviation tax experts to assist you in taking control of the cumbersome reporting and documentation requirements.
Flight Tax Systems:
- Is an alternative to traditional manual “spreadsheet” calculation methods which are complex and prone to errors and inaccuracies
- Simplifies flight tracking and reporting with easy input features and automated report calculations
- Automatically calculates according to IRS rules and takes complex regulations and flight scenarios into consideration
- Documents all business and non-business aircraft use according to IRS substantiation requirements
- Seamlessly maintains and consolidates required contemporaneous records all in one place
- Provides year-round visibility to aircraft usage in order to analyze tax impacts throughout the year
- Was created by and is fully supported by the aviation tax experts at Aviation CPAs
Please visit our features pages for more information on the types of reporting and special features available within Flight Tax Systems.