As the shutdown of HondaJet fractional operator Jet It moves into its third week, three top bizav attorneys share their insights
We are starting the third week since Jet It first grounded its HondaJet fleet on May 19 in what it described as a Safety Stand Down.
Continue reading “Top private aviation lawyers on what’s next for Jet It fractional owners”
If you own a fractional share, charter private jets or are buying a private jet, here’s what you need to know about current Russian sanctions
Sanctions against Russia could extend more broadly to private aviation users than you contemplated. Impacts reach buying jets and possibly current fractional shareowners and even chartering private jets.
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Weisselberg Chronicles: Giving employees a free seat on a private jet may create a taxable benefit
The indictment of Trump Organization CFO Allen Weisselberg earlier this month specifically alleges $1.7 million in indirect untaxed employee compensation. It spurred several subscribers to ask me about the implications of allowing employees and their family members and friends to fly in empty seats on their private jet flights. In other words, when do those seats become taxable fringe benefits in the eyes of the Internal Revenue Service?
Continue reading “Empty private jet seats, taxable benefits, and the IRS: Weisselberg lessons”