Aero-Tips!

A good pilot is always learning -- how many times have you heard this old standard throughout your flying career? There is no truer statement in all of flying (well, with the possible exception of "there are no old, bold pilots.") It's part of what makes aviation so exciting for all of us... just when you think you've seen it all, along comes a scenario you've never imagined.

Aero-News has called upon the expertise of Thomas P. Turner, master CFI and all-around-good-guy, to bring our readers -- and us -- daily tips to improve our skills as aviators, and as representatives of the flying community. Some of them, you may have heard before... but for each of us, there will also be something we might never have considered before, or something that didn't "stick" the way it should have the first time we memorized it for the practical test.

It is our unabashed goal that "Aero-Tips" will help our readers become better, safer pilots -- as well as introducing our ground-bound readers to the concepts and principles that keep those strange aluminum-and-composite contraptions in the air... and allow them to soar magnificently through it.

Look for our daily Aero-Tips segments, coming each day to you through the Aero-News Network. Suggestions for future Aero-Tips are always welcome, as are additions or discussion of each day's tips. Remember... when it comes to being better pilots, we're all in this together.

Aero-Tips 04.15.06

Awaken on this bright and cheery morn, and traipse happily to the airport. Rolling back the hangar door, push your nimble craft eagerly out into the dawn’s light, anxious for the exhilaration that comes when you wing into the lofty blue. Prop now turning, nod your headset-coiffed head as golden rays kiss the yawning world below. One thought comes to your exuberant mind: it’s April 15th. What will this airplane do to my taxes?

Airplanes and Income Tax

 The Aircraft Owners and Pilots Association posts its Pilot’s Guide to Taxes on its website. Part I of the Guide details the income tax implications of flying light airplanes.

Note: Tax and accounting law varies by state and sometimes even local jurisdiction. Consult a tax attorney familiar with aviation applications before making a final judgment and filing your taxes.

In general, aircraft expenses are deductible if:

• The costs are incurred in the conduct of a legitimate business operated with a clear profit motive.
• You use your aircraft without compensation in the furtherance of an employer’s legitimate business.
• You can demonstrate your aircraft expenses are “ordinary and necessary” to the business—the airplane is a business tool, used like a car or a computer or other business asset.
• Costs must be reasonable—they must compare generally with commercial airfares or the costs of other transportation. Convenience of scheduling and flexibility of travel by private aircraft can be used to substantiate some additional costs over other means, but it’s up to you to prove to the IRS that the costs are justified.
• If you already meet minimum standards (e.g., a Private certificate) and you’re taking training to maintain or improve your ability to perform work (e.g., a Flight Review, or earning your Instrument rating), then you may be able to deduct flight training expenses.

There’s a significant number of caveats, discussion, and cited case law in AOPA’s income tax guide.

Aero-tip of the day: Read the Guide, talk to a tax professional, and write off any legitimately deductible aviation expenses. Then turn your attention back to glorious flight in the azure skies.

FMI: Aero-Tips