Are you into an aviation business and own one or more aircrafts that are used for business purposes? As a business owner, you have to pay income tax as per the federal and state income tax rules. Depending on the ownership structure of your aircraft business and the nature of the business, you can save income tax. No matter how experienced you are in your business, you will need an expert aviation tax attorney who can help you streamline the process of daily business operation, business planning, tax concerns, and business compliance requirements.
Doing business planning, daily and long-term is not an easy task. Whoever is involved in the aviation business planning must have in-depth knowledge about aviation regulation, income tax regulations, transport regulations, state sales and use tax, interstate liability issues, and aircraft economy issue. A skilled aviation tax attorney can help an aviation business in doing overall planning, preparing required document and executing the business plan.
How aviation tax attorneys work?
Based on the basic needs of your aviation business, the aviation tax attorney will help you in developing the best operational structure for your business. The tax attorney works in coordination with the tax advisor and the compliance specialist so that various aspects of the aviation business remains balanced. The team takes care of the following aspects of an aviation business-
• Operational flexibility
• Compliance with FAA rules
• Minimum exposure to the Federal Excise Taxes
• Maximum deduction of the Federal Excise Taxes as allowed by your business’s state
• Maximum liability control
• Minimize the effects of state sales and use taxes
What to expect from aviation tax attorney?
If you are acquiring an aircraft in a proper manner it can give you many tax advantages. That is why choosing an aviation tax attorney is an important decision. You can expect the following from an experienced tax attorney.
• Receive prompt and professional customer service which is unmatched in the industry.
• Clients get the best professional for the implementing and monitoring of their aircraft ownership structure.
• Tax attorneys work in coordination with the legal advisors and compliance specialists.
The aviation tax attorney defends its clients when they face state or federal tax authorities. Tax attorneys help their clients to save significant amount of tax when they start a new aviation business or acquire a new aircraft. If proper planning is not done for day-to-day business operation and tax saving, the business owners end up in paying huge taxes for their aviation business. Whether it is a new venture or an expansion of the existing aviation business, business owners must hire experienced tax attorneys who have thorough knowledge of aviation tax and have done business and tax planning for many other aviation businesses. Visit Here: Advocate Consulting Legal Group, PLLC.
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