Russia Sanctions: What private jet users need to know now

Russia sanctions

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.

Empty private jet seats, taxable benefits, and the IRS: Weisselberg lessons

wooden gavel on table in courtroom

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?

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