Flight #80: Should You Purchase an Airplane?
The Pilot Money Guys · Charlie Mattingly
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Show Notes
Have you ever considered buying a plane? In this episode, we dive into the complexities of such a decision and why it can't just be about saving on taxes. Contrary to popular belief, setting up an LLC or another corporation may not provide the tax benefits you expect. We explore the criteria for tax deductions and why expenses must be reasonable and directly related to business purposes. Additionally, we discuss the importance of evaluating your plans for using the plane, frequency of use, and geographical considerations to determine if buying is the best option.
You can find show notes, resources and more at: https://tinyurl.com/mvwvnczs