Airline Pilot Forums

Airline Pilot Forums was designed to be a community where working airline pilots can share ideas and information about the aviation field. In the forum you will find information about major and regional airline carriers, career training, interview and job seeker help, finance, and living the airline pilot lifestyle.




View Full Version : Plane/CFI/how to maximize


sar1
10-22-2018, 05:05 AM
Greetings all. I've had a handshake partnership on a nice Arrow for a few years now. Due to my buddy's marital situation, he needs to get out from under the loan. I'm buying the plane from him, keeping on 2 other handshake partners (all partners are on the insurance).

I'm about to do my CFI/CFII. I am wondering if there is a way to buy the plane into an business/LLC, and use it for my CFI training, and write it off as an expense. I dont plan to teach in it, but I would like to option to do BFRs/IPCs for friends/friends of friends. I'm trying to wrap my head around the best way to take over the plane. I've also read about selling/buying the plane in states with lower sales tax. The plane is based in FL.

Just curious if anybody has tips or best practices to not go into this blindly and have a plan before signing anything. Thanks, I dont aim to operate shady in aviation, but also dont want to blindly give up tax dollars if I dont need to.

Thanks in advance.




Search Engine Optimization by vBSEO 3.6.1