Jaybird
New member
Covington, GA
- Aircraft Year
- 1975
- Aircraft Type
- 112/A
- Reg Number
- N1423J
- Serial Number
- 423
Some people use their plane in their business.
As a result, their expenses are deductible against their revenue in the business.
As long as the "meeting" aka "fly-in" is for maintaining the plane and keeping it operating, the expenses to attend are still tax deductible I understand.
If the "meeting" is purposed as more social in nature then that's not deductible.
I am hoping the planners will do everything they can to make this a meeting for which we learn how to maintain the plane.
If due to the virus conditions it actually does not result in a learning experience primarily in spite of best efforts then that's beyond the control as it is the intent.
Hopefully we will have Jim R, Frank, and Carl and others come talk as that is a definite qualifier so the meeting will be as much of a learning experience as possible under the circumstances. Perhaps we have an accountant on the forum that can offer a professional opinion.
As a result, their expenses are deductible against their revenue in the business.
As long as the "meeting" aka "fly-in" is for maintaining the plane and keeping it operating, the expenses to attend are still tax deductible I understand.
If the "meeting" is purposed as more social in nature then that's not deductible.
I am hoping the planners will do everything they can to make this a meeting for which we learn how to maintain the plane.
If due to the virus conditions it actually does not result in a learning experience primarily in spite of best efforts then that's beyond the control as it is the intent.
Hopefully we will have Jim R, Frank, and Carl and others come talk as that is a definite qualifier so the meeting will be as much of a learning experience as possible under the circumstances. Perhaps we have an accountant on the forum that can offer a professional opinion.