Tag: aviation tax attorney

Buying or selling a used aircraft can be confusing as you navigate the maze of tax laws, financing details, and assessing the aircraft’s condition. Assembling a team of experts to advise you during this process can help you to make a smart purchase and get the best possible value. To guide you through the aircraft-buying process, consider enlisting the help of the following professionals.

Broker

The internet makes it possible to gather more information than ever about a jet. However, in the same way you would trust a medical professional over a Web-based self-diagnosis, a jet broker’s informed opinion and expertise are invaluable when attempting to sift through the deluge of jet sales information. A reputable broker can assess an aircraft’s condition and valuation, help you determine a long-term operating budget, explain regulation changes, and ensure you are paying a fair price.

Aviation tax attorney

Aircraft operations planning is no easy task. It requires knowledge of FAA and DOT regulations, federal and state income and sales tax issues, and aircraft economics. An aviation tax attorney can assist you by designing a compliant operational structure, drafting purchase agreements, and maximizing your tax savings.

Lender

Financing your aircraft is an essential part of the buying process, so finding the right lender is crucial. Your lender can advise you on the many options available for financing your jet and offer you a loan with the best terms for the aircraft you’re looking to purchase.

Management provider

Some buyers choose an aircraft management company during the buying process; others handle this step post-sale. Either way, a management company can help you with the time-consuming job of managing and maintaining a multimillion-dollar aircraft. A management company provides essential services, such as locating and hiring a qualified pilot and crew, handling accounting, coordinating flights, and managing aircraft storage. Engaging a management company can reduce your ownership risk, lower operational costs, and maximize revenue. You can make sure you choose the right management company for your needs by asking the right questions.

Although you may need additional expertise to assist you in buying a jet, these four key team members will handle the essential parts of the process to ensure smooth sailing through such an exciting purchase.