Aircraft Ownership : A Legal and Tax Guide [Paperback]

Raymond Speciale (Author)

Book Description

ISBN-10: 0071407642 | ISBN-13: 978-0071407649 | Publication Date: June 27, 2003 | Edition: 1

* Offers "how to" information and solutions to the most common legal and tax issues facing general aviation aircraft owners--in layman's terms

* Flow charts, diagrams, and legal case briefs provide real world scenarios of each discussion

* CD-ROM contains downloadable forms, agreements, and checklists

Editorial Reviews

From the Back Cover

A COMPLETE "PLAIN ENGLISH" GUIDE TO THE LEGAL AND TAX ISSUES FACING AIRCRAFT OWNERS

CD-ROM WITH DOWNLOADABLE FORMS, AGREEMENTS, AND CHECKLISTS

Here’s everything a plane owner needs to make sense of all the confusing legal and tax issues surrounding aircraft ownership. Written by an experienced lawyer-pilot who is also a certified public accountant and MBA professor, A Legal and Tax Guide for Aircraft Owners uses layperson's language to provide detailed "how to" solutions and thorough explanations of issues involving:
* Buying and selling aircraft
* Aircraft recordation and registration
* Storing and maintaining aircraft
* Liability and insurance
* Multiple ownership arrangements
* Taxes
* Aircraft leasing

Readers will find insightful coverage of issues that directly impact their ownership rights and responsibilities and have an immediate bearing on compliance, expense, efficiency, safety, and profitability. You'll find IRS and FAA rules simplified and explained; legal tips for leasing your aircraft; advice on how to protect yourself when buying or selling an aircraft; what you should know about your aircraft insurance policy, your hangar lease, and state and local taxes; and much, much more.

Packed with flow charts, diagrams, and legal case briefs, and complete with a CD-ROM containing customizable forms, agreements, and checklists, A Legal and Tax Guide for Aircraft Owners belongs on the shelf of every pilot, plane owner, and flight department manager.

About the Author

Raymond C. Speciale is a lawyer and certified public accountant in Frederick, Maryland. He has provided legal counsel to hundreds of aircraft owners and pilots since he began his work as an aviation attorney over 15 years ago.

Mr. Speciale is an active pilot and flight instructor (CFII). He has written several booklets and articles for the Aircraft Owners and Pilots Association (AOPA) related to aircraft ownership and taxation issues.

He teaches courses in law and accounting at Mount Saint Mary's College in Emmitsburg, Maryland, where he serves on the full-time faculty as an assistant professor. He has been associated with the Law Offices of Yodice Associates (AOPA Counsel) since 1988. Mr. Speciale is an AOPA Legal Services Plan panel attorney.

Product Details

• Paperback: 331 pages
• Publisher: McGraw-Hill Professional; 1 edition (June 27, 2003)
• Language: English
• ISBN-10: 0071407642
• ISBN-13: 978-0071407649
• Product Dimensions: 9.2 x 7.3 x 1 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #604,056 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

4 of 5 people found the following review helpful:

2.0 out of 5 stars Nothing of much value, June 13, 2008

By 

Thomas J. Panozzo Jr. "MrZappo" (Chicago, Illinois USA) - See all my reviews
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Amazon Verified Purchase

This review is from: Aircraft Ownership : A Legal and Tax Guide (Paperback)

This book is a compilation of generaly available information and boatloads of case law.

My problem is that most people that buy airplanes likely know the difference between a LLC and a Corp. This book offers no new information in that regard. The case histories are likely of little use unless you are an attorney yourself.

Most disappointing is that it offers no direction into why one might want to use an LLC vs. corp, it simply tells you what they both are. I was looking for some examples that might apply to my own situation with advice on what course might be most beneficial to me.

Instead, I found that the book gave lots of information (most of which I already know) but no opinion or advice on what to do with any of it ...

This might be more considered a reference and is not very educational.

1 of 1 people found the following review helpful:

4.0 out of 5 stars Good place to start. Forms alone are worth the price, November 30, 2008

By 

G. Gnadt - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Aircraft Ownership : A Legal and Tax Guide (Paperback)

When I first started working with aviation related matters as an attorney, I found this book to be a very helpful introduction. It is written at an intermediate level of sophistication, and I found it to be very accessible. The text does a reasonable job of guiding the reader through the landscape of issues surrounding aircraft ownership, transfer/sale, operating and ownership structures, risk management/insurance, and taxation. It sprinkles in a enough citations to the actual law (US Code, FAR, Treasury Regs., etc.) to help a person know where to look for more information.

The sample documents are clearly written, cover essential issues, and are provided in an editable format (MS Word). Although professionals could undoubtedly find more sophisticated (and expensive) practice materials, these forms are a helpful starting point, and can be combined with other stock language to create very serviceable little agreements.

At $23 (or less for used), the forms alone justify the price.

3.0 out of 5 stars Starting Point For Aircraft Attorneys, August 27, 2009

By 

Ari Good "Ari Good" (Naples, FL) - See all my reviews
(REAL NAME)   

This review is from: Aircraft Ownership : A Legal and Tax Guide (Paperback)

This book is an excellent starting point for aviation tax attorneys and other professionals. It covers the most important aspects of aircraft transactions - purchase and sale agreements, tax considerations, entity selection and other key points of law. While it could provide more comprehensive references to where the aircraft lawyer should go for more in-depth material, the book is worth purchasing and a fairly easy read in this complex subject.