Passed into law in December 2017, the Tax Cuts and Jobs Act has implications for business aircraft owners and operators, and the association is working to answer members’ questions. “NBAA requested guidance on three bonus depreciation issues: definition of property previously used by the tax payer, the binding written contract rules for self-constructed property and the definition of binding written contract,” said John Hoover, a partner at Holland & Knight. Hoover, vice chair of the NBAA Tax Committee, discusses tax reform provisions impacting business aviation in this week’s NBAA Flight Plan podcast.
The FAA has been working with NBAA and others to address privacy concerns with the Privacy ICAO Address program (PIA), which recently was expanded beyond the contiguous U.S. to include overwater routes.
Flight data monitoring and data sharing are important tools to help identify potential safety risks before they become serious issues. That said, many operators are uncertain about how they work, what equipment is needed and what this information can offer their operations. NBAA has developed a new, comprehensive resource to answer those and other questions.
In this special edition of NBAA Flight Plan, podcast host Rob Finfrock gets a few moments in between conference sessions with NBAA President and CEO Ed Bolen to discuss the latest efforts by the association to highlight business aviation's societal benefits.