Review the full schedule of the NBAA GO Aviation Tax & Regulatory Compliance Seminar.

Day 1: Wednesday, June 9

1 – 1:10 p.m. EDT

Welcome and Introduction

1:10 – 1:40 p.m. EDT

Legislative and Tax Policy Update

Scott O’Brien, NBAA; Dave Olander, Capitol Counsel LLC

1:50 – 2:40 p.m. EDT

Planning for Aircraft Deductions: Traditional Structures

Mike Grim, MCM CPAs; Keith Swirsky, GKG Law, P.C

Discuss the common issues for aircraft-related deductions when the asset is owned in a traditional corporate structure. This will include a review of Internal Revenue Code sections 162, 280F, 469, 465 and 274, and their relationship to maximizing bonus depreciation and related deductions.

2:40 – 3 p.m. EDT

Break

3 – 3:50 p.m. EDT

Planning for Aircraft Deductions: Non-Traditional Structures

Sue Folkringa, Aviation CPAs; Joe Park, Bizjetcpa

Learn about the unique federal tax considerations when an aircraft is owned outside a traditional corporate structure. This will include an analysis of how non-traditional structures impact planning for personal use and aircraft depreciation deductions. The considerations when evaluating ordinary and necessary business use, pathways to deductions such as grouping and unreimbursed partnership expenses, and risks associated with non-traditional structures will also be covered.

4 – 4:50 p.m. EDT

Business vs. Personal Use: The New Normal?

Melissa Stanley, Barbera & Watkins; Ellen Urell, Geller & Company

Analyze how changing business aircraft use patterns, especially with COVID-19 impacts have made the classification of personal use flights more challenging. Review the Standard Industry Fare Level (SIFL) rules for imputed income and pandemic-related changes to the rates. Also, learn about impacts of the disallowance for commuting expenses enacted as part of the Tax Cuts and Jobs Act, and NBAA’s role in the rulemaking process.

Day 2: Thursday, June 10

1 – 1:50 p.m. EDT

Aircraft Exports: Compliance Tools and Best Practices

Katie DeLuca, Harper Meyer Perez Hagen Albert Dribin & DeLuca
Scott McCreary, McAfee & Taft

Review best practices for complying with the complex rules for exporting an aircraft from the United States. There are numerous regulatory agencies involved, and advance planning is required. Also, learn what is defined as an export, the specific filings required and how compliance fits into the aircraft transaction process.

2 – 2:50 p.m. EDT

Implementation of the FET Exemption for Aircraft Management Services

John Hoover, Holland & Knight; Chris Younger, Crowell & Moring

Analyze final rules from the IRS on the new exemption from Federal Excise Taxes (FET) for certain payments from aircraft owners to aircraft management companies. Review how this exemption applies to common management structures, required documentation, and the impact on Part 135 owner flights. Also, review compliance and planning issues for the FET suspension enacted by Congress as part of the CARES Act.

3 – 3:30 p.m. EDT

Update on FAA Registry Modernization

Jeff Towers (moderator), TVPX, Bob Gonzalez, FAA

The FAA is making significant progress on its Civil Aviation Registry Electronic Services (CARES) initiative. Learn how CARES will provide web-based services for registration of all U.S. aircraft, and certification of all U.S. airmen, including unmanned aircraft systems.

3:30 – 3:50 p.m. EDT

Break

3:50 – 4:30 p.m. EDT

Aircraft Dry Leasing Best Practices

David Hernandez, Vedder Price; David Norton, Shackelford, Bowen, McKinley & Norton

Through a detailed review of NBAA’s leasing best practices, focus on FAA scrutiny of illegal/disguised charter and multiple dry leases/timesharing agreements and related tax issues. This will include a discussion of multiple dry leases and which party is responsible for regulatory compliance. There will also be a review of the unique tax issues for non-exclusive dry leases.

4:40 – 5:30 p.m. EDT

Risk Management Update for Business Aviation

Alan Burnett, CenterPoint Aviation Law; Brint Smith, Alliant Insurance Services

Understand the latest trends in the aviation insurance market, with the current “state” of instability. Learn about the key issues to communicate to aircraft owners regarding the market. Also, analyze case studies of past and recent claims involving business aircraft.

Thank you to our sponsors!

Platinum Level Sponsor:

Gilchrist Aviation Law

Gold Level Sponsors:

Aviation CPAsBizJetCPAHusch Blackwell

Bronze Level Sponsor:

Crowell Moring LLP