profit from owning a plane?
03-29-2006 | 10:09 AM
#1
Thread Starter
Gets Weekends Off
Joined: Apr 2005
Posts: 254
Likes: 0
From: Glass
profit from owning a plane?
suppose i was to buy a decent Seneca II or III with another person.. what would be ways to offset the cost of the aircraft to us and get by the whole tax situation as well
i hear putting on 135 will help and the IRS likes to see the revenue produced from it, but what happens if charter ops arent looking good for the area
secondly, leaseback ends up costing a bunch in insurance and doesnt have the turnkey power as straight ownership does...
any thoughts are welcome
i hear putting on 135 will help and the IRS likes to see the revenue produced from it, but what happens if charter ops arent looking good for the area
secondly, leaseback ends up costing a bunch in insurance and doesnt have the turnkey power as straight ownership does...
any thoughts are welcome
03-29-2006 | 01:40 PM
#2
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,905
Likes: 691
From: Engines Turn or People Swim
Originally Posted by UConnQB14
suppose i was to buy a decent Seneca II or III with another person.. what would be ways to offset the cost of the aircraft to us and get by the whole tax situation as well
i hear putting on 135 will help and the IRS likes to see the revenue produced from it, but what happens if charter ops arent looking good for the area
secondly, leaseback ends up costing a bunch in insurance and doesnt have the turnkey power as straight ownership does...
any thoughts are welcome
i hear putting on 135 will help and the IRS likes to see the revenue produced from it, but what happens if charter ops arent looking good for the area
secondly, leaseback ends up costing a bunch in insurance and doesnt have the turnkey power as straight ownership does...
any thoughts are welcome
To get your own cert would entail various expenses and challenges, especially if there's more than one pilot involved.
With that sort of airplane, most folks would probably enroll it in a club and rent it out. Make sure you have the insurance researched, and form some kind of company for liaibility protection (see a lawyer).
03-29-2006 | 04:40 PM
#3
Gets Weekends Off
Joined: Aug 2005
Posts: 546
Likes: 0
From: Reserve on tha Beach
Sounds like you want to spend a whole lot of money so you can get a little back,Maybe...if you are lucky.If you just want to build multi time, it sounds like you have some money, I would just buy whatever you need, build your time then sell it, chances are good the value will go up as long as it's decently equipt and you don't break it...
Thread
Thread Starter
Forum
Replies
Last Post
