Aircraft Ownership A Legal and Tax Guide

by Speciale, Raymond

• ISBN13: 9780071407649
• ISBN10: 0071407642
• Edition: 1st
• Format: Package
• Copyright: 2003-07-17
• Publisher: McGraw-Hill Education

Summary

* Offers "how to" information and solutions to the most common legal and tax issues facing general aviation aircraft owners--in layman's terms * Flow charts, diagrams, and legal case briefs provide real world scenarios of each discussion * CD-ROM contains downloadable forms, agreements, and checklists

Author Biography

Raymond C. Speciale is a lawyer and certified public accountant in Frederick, Maryland. He has provided legal counsel to hundreds of aircraft owners and pilots since he began his work as an aviation attorney over 15 years ago.

Mr. Speciale is an active pilot and flight instructor (CFII). He has written several booklets and articles for the Aircraft Owners and Pilots Association (AOPA) related to aircraft ownership and taxation issues.

He teaches courses in law and accounting at Mount Saint Mary's College in Emmitsburg, Maryland, where he serves on the full-time faculty as an assistant professor. He has been associated with the Law Offices of Yodice Associates (AOPA Counsel) since 1988. Mr. Speciale is an AOPA Legal Services Plan panel attorney.

Table of Contents

Preface	ix
Acknowledgments	xiii
Part 1 Buying or Selling an Aircraft
Buying and Selling an Aircraft	3	(28)
Entity Choices for Aircraft Ownership	31	(18)
Part 2 Recording and Registration
Recording Aircraft Ownership and Liens	49	(24)
Aircraft Registration	73	(14)
Aircraft Registration for Non--U.S. Citizens	87	(18)
Part 3 Aircraft Storage and Maintenance
Hangar and Tie-Down Agreements	105	(22)
Legal Basics of Aircraft Maintenance	127	(26)
Airworthiness	153	(8)
Part 4 Liability Issues for Aircraft Owners
Insurance	161	(26)
Liability Releases	187	(10)
Liability for Federal and State Laws	197	(22)
Part 5 Aircraft Cost Sharing
Aircraft Leasing	219	(8)
Multiple Ownership Arrangements	227	(16)
Part 6 Tax Issues for Aircraft Owners
Aircraft-Related Business Expenses	243	(40)
Nontaxable Exchanges	283	(10)
Tax Implications of Aircraft Leasing	293	(10)
State and Local Taxes	303	(16)
Selected Bibliography	319	(2)
Index	321