More Than 300 on Hand as Tax Conference Starts With Reflections on a ‘Pretty Crazy Year’
Oct. 12, 2025
From the effects of the Trump administration’s massive international tariffs to the challenges of completing aircraft transactions against the backdrop of the ongoing federal government shutdown, it’s been “a pretty crazy year, unlike any we’ve seen before,” in the words of NBAA Tax Committee member David Shannon.
Shannon moderated the Oct. 12 opening session of the 2025 NBAA Tax, Regulatory & Risk Management Conference, featuring insights from aviation finance and transactions professionals Joanne Barbera, Angel Houck and Jeff Agur on how these and other factors weigh against what continues to be a strong market for business aircraft overall. More than 300 people are attending the conference.
Notably, some of the key concerns in focus at last year’s conference, including ramped up IRS audits of business aircraft operators, have since subsided as concerns about tariffs dominated the first half of 2025.
“The risk changed day to day, depending on what side of the bed the administration got up on,” said Agur, CEO of VanAllen Group. “It was very frustrating.” The added costs have also served to price out some buyers, he added, with others delaying purchases to see how the situation might evolve over the next 18-24 months.
Barbera, with the aviation law firm Barbera & Watkins LLC, said tariff impacts on transactions in Canada, Mexico and much of Europe have since “kind of settled down” in her experience, but Swiss and Brazilian purchases have all-but halted. The situation affects not only aircraft sales, she added, but also repairs.
“My poor Falcon owner, who’s owned the same aircraft since new, went in this summer for overhaul and was told their [maintenance service plan] did not cover tariffs and they could expect a $500,000 tariff bill,” she said. While the final bill came in less than that initial estimate, “it’s still something to keep in mind.”
Other factors among buyers include greater concern with passenger safety and security, which may lead users to establish privacy structures like owner trusts or utilizing charter aircraft that also carry tax implications.
Limited availability for aircraft inspection slots might also drive unexpected delays with finalizing aircraft transactions, along with the Oct. 1 shutdown of the federal government that led to furloughs of many key FAA personnel, with others still on the job but uncertain of when they will receive their next paycheck.
Despite these challenges, continued demand for business aircraft and the reinstatement of 100% bonus depreciation are driving strong sales. “It’s a very good market right now, but it’s so important to get everything [in a purchase transaction] right the first time around,” cautioned Houck, of Houck & Christensen CPAs LLC. “It’s so hard to unwind it if you make a mistake.”
The 2025 NBAA Tax, Regulatory & Risk Management Conference continues through Oct. 13, ahead of the kickoff of the NBAA Business Aviation Convention & Exhibition (NBAA-BACE).
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