U
Unregistered
Guest
For various reasons, 2013 has been a good year, one of the companies I have a financial interest in has quite a bit of net income this year. So, what does one do when one has extra money, how about buy an airplane!!!
The entity is an LLC that is owned by two people (family members, one is a pilot), so the idea is to buy an airplane and allow the LLC to have some expenses. Both members think this is a good thing.
Legitimately, there should not be any problem having business needs for the plane, from the LLC, for 50 hours a year of flight time. There is a genuine business need.
Now, about the weekends and non-business needs to be flying to fun locations.
1.) What sort of personal use can be done without getting into trouble with the people who care about those types of things?
2.) Can the LLC make up some sort of requirement that the pilot be "proficient" and allow the LLC to pay for the expenses incurred by flying for non-business needs?
3.) Can the LLC pay for all the tie downs, insurance, maint, etc?
4.) Can the LLC pay for all the fuel?
5.) Can the Private Pilot fly customers to the LLC's business locations without being commercial pilot?
6.) Can the LLC pay for the pilot's expenses for the BFR?
7.) Anything else that can be charged to the LLC?
(Thanks in advance. I know this isn't medical, but the Unregistered feature was nice.)
The entity is an LLC that is owned by two people (family members, one is a pilot), so the idea is to buy an airplane and allow the LLC to have some expenses. Both members think this is a good thing.
Legitimately, there should not be any problem having business needs for the plane, from the LLC, for 50 hours a year of flight time. There is a genuine business need.
Now, about the weekends and non-business needs to be flying to fun locations.
1.) What sort of personal use can be done without getting into trouble with the people who care about those types of things?
2.) Can the LLC make up some sort of requirement that the pilot be "proficient" and allow the LLC to pay for the expenses incurred by flying for non-business needs?
3.) Can the LLC pay for all the tie downs, insurance, maint, etc?
4.) Can the LLC pay for all the fuel?
5.) Can the Private Pilot fly customers to the LLC's business locations without being commercial pilot?
6.) Can the LLC pay for the pilot's expenses for the BFR?
7.) Anything else that can be charged to the LLC?
(Thanks in advance. I know this isn't medical, but the Unregistered feature was nice.)