WEBCAST

Family Office Fridays: Taking Flight – Tax Considerations of Airplane Ownership

Webcast overview

Interest in private airplane ownership has increased significantly over the years. Some of the most common reasons include ease and flexibility of travel, coupled with the potential for increased security and privacy. Recent COVID-19 related concerns have only served to increase the interest in private airplane travel.

Before entering into a transaction to own and operate a private airplane, there are several critical tax items to consider. KPMG LLP (KPMG) is pleased to invite you to a TaxWatch for a discussion of such items, including with respect to the following:

  • Review of the special rules regarding tax depreciation expense, including 100% bonus depreciation
  • Summary of the potential loss limitations which may be applicable to losses from airplane ownership
  • Considerations around imputing income to employees for the personal use of an airplane
  • Sales and use tax considerations in the acquisition and disposition of aircraft
  • Considerations around the application of Federal excise taxes on air transport to private air travel

Please join us for what promises to be an insightful and informative webcast.

Featured speakers

Robert Keller

Robert Keller

Partner, Washington National Tax, KPMG LLP

Harley T. Duncan

Harley T. Duncan

Managing Director, State & Local Tax, KPMG US

Bobby Bui

Bobby Bui

Managing Director, State and Local Tax, KPMG LLP

Mark Spittell

Mark Spittell

Managing Director, Tax, KPMG US

Lynn Afeman

Lynn Afeman

Managing Director, Tax Incentivized Transactions, Leasing & Energy, Washington National Tax, KPMG US

Taylor Cortright

Taylor Cortright

Managing Director, Excise Tax Practice, KPMG US

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