IS THE TIME (aviation maintenance) RIGHT - AIRCRAFT OWNERSHIP
By gennew05
In the hours and days immediately following the tragic attacks on America of 9/11, there was much speculation about the effects on the general aviation industry. While the events of September 11, 2001 have had a significant impact on the economy as a whole, sales of personal aircraft in Michigan have experienced a surprising boost. Certainly, the convenience of personal transportation has played a major role in this increase as airport lines and security have become more time consuming. The reduction of flights resulting from the airline cost-cutting have limited flexibility for the business person and affected the productivity of companies relying on commercial transportation.
These factors alone cant explain surge of people joining the flying community for more than just pleasure. Rebates, low and 0% interest rates, training allowances, and yes, even the IRS played a role in creating an environment that has introduced more people to the benefits of aircraft ownership and had an effect similar to that seen after the passage of the General Aviation Revitalization Act of 1995.
The IRS is here to help you? Well, believe it or not, a new tax law passed earlier this year represents a renewed attempt by our nations leaders to jumpstart the economic recovery. The bill applies to new airplanes acquired after September 10, 2001, and before September 11, 2004, and provides tax savings from economic stimulus provisions included in the Internal Revenue Code designed to encourage investment in capital assets. Visit your local airport and youre sure to see plenty of forty and fifty year old aircraft operating for both business and pleasure. Even prior to the new tax law, Congress recognized that capital investment is an important part of our economy, and therefore allowed a five year depreciation of these assets. To further encourage investments, they do not require the depreciation to be spread evenly over the five years, but through a concept know as double declining balance, greatly accelerate depreciation during the first two years of ownership. Now with the additional incentives of 30% bonus depreciation on new airplanes, tax deferral opportunities are greatly expanded.
So how might a business person benefit from these new changes? First of all, the impact of these depreciation changes greatly reduce net cash investment for the purchase of a new airplane. Specifically, an operator in the 40% tax bracket who can successfully write off his aircraft ownership expense may have no cash investment in the airplane during the first four years. Additionally, when properly structured, many taxpayers have an opportunity to convert personal use into business use. The Internal revenue code provides an optional method of taxing an individual for personal use of an aircraft which many times amounts to less than 10% of the actual deductions flowing from the investment. Consult your tax professional prior to purchasing your new airplane or ask your Aircraft Dealer for the name of an Aviation Tax Specialist to set up your purchasing entity.
And you say youre not a pilot? Local aircraft dealers like Suburban Aviation, Inc. in Lambertville, Michigan will actually teach you to fly your new airplane and even reimburse your expenses when you purchase a new Cessna airplane from them. Most of todays pilots learned to fly in a Cessna airplane and the majority of these pilots continue to experience the freedom and flexibility that flight offers in one of Cessnas many single engine models. For 75 years, Cessna has been the leader in general aviation aircraft providing a safe and reliable alternative to commercial airlines and the automobile.
So if your business can benefit from improved efficiency and tax savings, why not consider a company airplane? There are few tax saving opportunities as effective as fully depreciating an aircraft on a five year accelerated basis, and with todays interest rate environment, a well-structured transaction often results in little or no after tax cash flow holding costs during the early years of ownership. Of course, arriving at your meeting on time and with all your luggage can also be pretty convincing!
Did you find this article useful? For more useful tips and hints, points to ponder and keep in mind, techniques, and insights pertaining to aviation, do please browse for more information at our websites.
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Watch Your Career Take Off - Get An Education In Aviation!
By John Morris
Is it your dream to become a pilot? Have you always wanted to take to the skies, to feel the freedom that eagles and hawks enjoy all the time? This could be the start of something big for you.
1. Evaluate Your Skill Level
Are you a college graduate or not? This is a vital issue for you since most airline companies give a lot of bearing on a potential pilot’s academic proficiency as well as overall good physical and mental well-being. This is perfectly understandable on their part since they will be giving their pilots total command of a multi-million dollar aircraft. They would rather have one of these at the hands of a competent and capable pilot who can make crucial decisions during critical situations rather than someone who may be less proficient and easily loses composure whenever stressfull circumstances arise.
2. Plunging Into Unfamiliar Territory
By becoming a pilot you are subjecting yourself to a life that most often than not is always on the go. Expect work schedules that can last from two to even six days of continuous flights. Even holidays will not give you any reprieve. At the same time, however, this provides you with the opportunity to travel to distant lands here and abroad. This is as near as you can be from being a man of the world. It poses an exciting and fun career but on the other hand, its very nature can cause problems if you have a family that may have a hard time coping with your perpetually changing schedule.
3. Search For Your Ideal School
Looking for your ideal school can be exciting and enjoyable. Consider factors like the reputation of a school. Does it offer up-to-date flight programs? Is it in partnership with airline companies? Look at the competitive edge of your potential flight school. Make sure these aviation schools to measure up to your expectations.
- Location, Location, Location
Geography has a key role in your education because the time you will spend in the air learning to operate an aircraft will largely depend on the location’s weather. If foul weather abounds in the area that covers the site of your flight school, chances are that you will spend more time in the classroom learning about theories rather than learning it firsthand through experience.
- Be On Budget
Admittedly, enrolling in flight school is a costly endeavor. Much of the expenses of the course is related to your accumulation of flying hours. If you are limited by a tight
budget and you want to get the best aviation school education you can get, then consider joining the army. All your educational expeses will be paid for by the government and at the same time, you will be getting a first-rate education from very capable instructors. An important thing to take note of if you are thinking of joining the army is that they have a mandatory commitment time which lasts for a few years (you didn’t think you’ll get off the hook so easily, did you?). After that, you are free as a bird and can now proceed to jumpstarting your professinal career.
- Stay The Course
Your short-term goal is to get into a good aviation school and learn the basics. The next step, which will be your mid-term goal, is to acquire the necessary certificates and accumulate the required number of hours that will ensure you will land a job in a highly-regarded airline company.
- Be A Role Model
Like it or not, your ideal position is extremely competative, and companies will be looking not only at your credentials but also your personal character. Join organizations that promote good values and exemplify leadership, integrity, and responsibility.
- Stay Up There
Your learning should not stop after getting your certificates and earning your flight hours. Check out aviation magazines as well as journals. Use the internet, a lot of information can be gathered online and this will be beneficial for your professional growth.
For more great aviation related articles and resources check out http://www.flightschoolhq.com
Careers In The Aviation Industry
By Tony Jacowski
The air-transport aviation industry has grown tremendously over the years and includes all aspects of commercial airlines. The past few years, have been difficult for the aviation industry. The 9/11 attacks on World Trade Center and the subsequent security delays at airports dealt a major blow to the aviation industry.
However, with rapid globalization in this fast paced world, the aviation industry has emerged as one of the fastest growing industries in the world. The upward trend in both aviation and travel industries has lead to an increase in job opportunities in the aviation, travel and hospitality industries. With the world getting smaller each day, there will be a constant demand for people trained in aviation careers.
Sound Education: A Must
If aviation is your choice of career, then you need to educate yourself to excel in this challenging field. Career options in this field are unlimited and you are required to learn the skills from a recognized institute to pursue them. Before you choose a particular field from the aviation line, you should be aware of the number of job options available and their individual scope.
Aviation careers can be divided into Flying Careers and Management Careers. Career options include Pilots, Flight Engineers, Flight Attendants, Cabin attendants, In-flight Supervisors, Technicians, Flight Coordinators, and Crew Schedulers. Other job options such as Airport Security, Line Service Personnel, Business Development, Cost Analysts, Aeronautical Engineers, Ground Instructors, Airport Managers, Technical Writers, and Air Traffic Controllers have also attracted a significant number of job seekers.
Once you have identified the field you are interested in, determine the educational qualifications and expertise required for that field. Most careers in this field require strong arithmetic skills and sound computer knowledge.
Pilot Training Lessons
Do not limit your aviation career by applying only at large airports and major airlines. You will be surprised to know that small and local airports strewn across the country also provide excellent job opportunities. Pilot training is constantly required in small aircraft. You can begin private pilot training even before you complete high school, and can offer you a BIG break in the personal aviation field.
If your inclination were towards military aviation, then Air Force would be the obvious choice. To become a pilot in the military, you need to undergo full-fledged training in college. The Service Academies would be evidently the first option, however you can also become a military pilot by attending an extensive college program, which offers ROTC training.
To become a commercial pilot, you must be qualified to obtain a commercial pilot license or CPL. This also involves many hours of flying, plus theory examinations. A new CPL holder would need either a command instrument rating or an instructor rating, in order to meet the requirements of the employer. You can also obtain professional training for aircraft repair and other mechanical jobs and acquire the necessary skills. Air traffic control is another promising and lucrative career option in the aviation industry.
Several aviation academies have emerged owing to the increasing demand for skill and expertise in aviation fields. Such academies chisel young minds and groom their careers. Most of them have specialized training programs for those aspiring to become Flight Attendants.
Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution’s Six Sigma Online offers online six sigma training and certification classes for lean six sigma, black belts, green belts, and yellow belts.
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