NBAA GO Sessions to Offer Best Practices for Aviation Tax & Transactions

NBAA GO Sessions to Offer Best Practices for Aviation Tax & Transactions

The National Business Aviation Association (NBAA) recently announced an informative series of upcoming NBAA GO virtual professional development seminars addressing common questions and concerns surrounding aircraft transactions, ownership structures and taxation, including the ramifications from COVID-19 pandemic.

Beginning Tuesday, Oct. 13, the Virtual Aviation Tax & Transactions Review will encompass a series of three live and three pre-recorded sessions featuring recognized leaders in aviation tax planning and transactions for an interactive analysis of critical tax and regulatory issues for aircraft owners and operators.

Live sessions will include:

The A to Z of Tax Depreciation for Aircraft Owners: How to Maximize Deductions and More – Tuesday, Oct. 13 at 2:30 p.m. (EDT): During this session, attendees will learn how to determine the applicable depreciation schedules for business aircraft, including the potential availability of immediate expensing, and structure operations to maximize depreciation deductions.

Tax Aspects of a Successful Aircraft Transaction – Tuesday, Oct. 20 at 2:30 p.m. (EDT): This live session will offer guidance to proactively identify federal tax concerns for common aircraft ownership structures and understanding of basic aircraft depreciation and the importance of state sales tax and use planning when acquiring aircraft.

CARES Act Business Tax Changes – Tuesday, Oct. 27 at 2:30 p.m. (EDT): This session will provide high-level understanding of tax policy changes under the CARES Act such as net operating losses (NOLs); disallowance of excess business losses; and suspension of certain federal excise taxes and their impact on common aircraft ownership and operating structures.

In addition, pre-recorded sessions will provide detailed information about common regulatory and tax questions regarding different uses of business aircraft, for attendees to review at their convenience:

Regulatory Aspects of a Successful Aircraft Transaction: This session will examine tax planning strategies that can have unforeseen regulatory consequences. Attendees will also gain an understanding of the differences between operating under FAR Part 91 or Part 135.

Tools to Share Aircraft Costs and Increase Utilization: To effectively use a business aircraft, there is often the need to share costs or utilize the aircraft across various companies. This session will examine shared use models and how to structure them to ensure regulatory compliance.

Planning for Non-Business Use of Aircraft: When non-business travel occurs, there are complicated tax regulations to comply with and detailed recordkeeping requirements. During this session, attendees will learn how to analyze non-business use flights to determine how they are treated for fringe benefit purposes, and SEC compliance.

Live sessions will include interactive Q&A forums providing the opportunity for attendees to ask presenters about specific taxation and transaction issues. Each hour-long session is eligible for continuing legal education (CLE) credit and CAM recertification credit, while the live sessions may also be applied toward continuing professional education (CPE) credit for CPAs.

NBAA Also Launches New Virtual Learning Series Tailored to Smaller Flight Departments

The NBAA also recently unveiled a new series of educational programming to address common issues facing leaders of small flight departments, and to provide guidance to newer managers for supervising and growing their flight operations.

Developed by NBAA’s Small Flight Department Subcommittee, the new NBAA Small Operator Learning Series offers contributions from seasoned business aviation leaders on matters including operational excellence, management practices and financial considerations. All programming is available free for NBAA members to review at their convenience, on their schedule.

The online series recently launched with three informative modules:

Budgeting Basics: Addressing one of the most common challenges for new managers, this program assists small operators in designing budget templates, managing department expenses and planning for scheduled and unanticipated expenditures.

Insurance Claims and Coverage: Smaller flight departments consistently face insurance claims and coverage issues with respect to their aviation operations. This module addresses both fundamental issues as well as more specialized and highly nuanced areas, including aircraft diminution in value claims and the limits to professional liability insurance.

Time Sharing Arrangements: This module offers best practices for creating and utilizing a time-sharing agreement for aircraft principals to share their aircraft with others. This program also details NBAA’s Small Aircraft Exemption that allows the use of regulations typically reserved for large operators.

The NBAA Small Operator Learning Series will continue evolving and adding new content, with future modules addressing maintenance best practices, building an effective safety culture and communicating effectively with the aircraft principal, among other topics.

Go to the organization’s website at to find more information.

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