Download e-book for kindle: Aircraft Ownership : A Legal and Tax Guide by Raymond Speciale

By Raymond Speciale

ISBN-10: 0071407642

ISBN-13: 9780071407649

ISBN-10: 0071434003

ISBN-13: 9780071434003

* bargains ''how to'' info and options to the commonest felony and tax concerns dealing with basic aviation plane owners--in layman's phrases

* stream charts, diagrams, and felony case briefs supply actual global eventualities of every dialogue

* CD-ROM includes downloadable types, agreements, and checklists

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To give yourself some peace of mind, you will have to carefully select the right insurance and insurance coverage. For a more detailed discussion of insurance and liability issues, see Part 4. Taxation As far as tax ramifications are concerned, there will be no income tax issues if you are merely using an individually owned aircraft solely for personal use. If you are self-employed and you use your aircraft to further your business interests, you will probably be reporting your business income and expenses on an IRS Form 1040 Schedule C.

Now you can. Your score will fall between 300 and 900 with 900 being the highest possible credit score. Your score is determined on the basis of the following criteria: ■ Payment history (about 35 percent of your score) ■ Amounts owed (about 30 percent of your score) ■ Length of credit (about 15 percent of your score) ■ Pattern of credit use (about 10 percent of your score) ■ Types of credit in use (about 10 percent of your score) Buying and Selling an Aircraft 29 As a general matter, if your score is 650 or above, you have a good to excellent credit history and you should not encounter any problems with your credit check.

Because buyers and sellers often live in different states, selection of the state law to govern disputes is critical. You may also help clarify things if you specifically identify the state court or federal court that you wish to have jurisdiction over your dispute. If a dispute arises, it may cost more to determine where a trial will occur than the costs for the trial itself. If you do some planning when you draft your contract, you may save yourself substantial legal fees later on. Sometimes you may also want to agree that any disputes will be submitted to arbitration.

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Aircraft Ownership : A Legal and Tax Guide by Raymond Speciale

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