IS THE TIME (aviation history) 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!
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The Vast Benefits Of Online Shopping
By Daniel Millions
Online shopping is a phenomenon which has taken the world by storm. Only thirty years ago, if you wanted to purchase a product, it was necessary to get in the car, drive to a store, and spend half an hour or so looking for what you want. Now, in the twenty-first century, you can buy nearly anything you want from the comfort of your own home.
Brick and mortar businesses will always be popular, but e-commerce is a huge industry and growing at an amazing rate. The technology first became available in 1991, although it was not until years later that online shopping began to gain momentum. As the years went on, more and more people began to trust the Internet and the businesses on it. Currently, tens of billions of dollars worth of transactions are conducted online every month, with a large percentage of those transactions being business to business.
Price is one of the key advantages of shopping online. Most Internet users nowadays have a DSL or cable Internet connection, enabling them to browse websites at a high speed. This means that it is easy to shop around, and check out various websites to see which one has the lowest price. If one puts enough time into it, it is possible to find a product at half the cost than in a traditional store.
Often, shopping online can be somewhat time consuming. However, the majority of people enjoy buying products online; some even consider it a pastime. When people find an activity they enjoy, they rarely refer to that activity as time consuming. Therefore, online shopping is not only a productive event, but a fun one as well.
Arguably, the most attractive benefit is convenience. It is incredibly easy and quick to make purchases online. All you have to do is find what you want, enter your shipping information, and pay. It does not matter what you are wearing, what time it is, who you are with, what day it is, or the weather outside (unless it takes down your connection). When shopping online, you have complete control and freedom to buy what you want when you want.
Initially, Ecommerce was relatively insecure. There were not as many security protocols, it was easier to get scammed, and it was hard to know who to trust. Thankfully, things are different now. There are a variety of encryption technologies available, which protect vital information from being stolen in transit. In addition, many companies offer Secure Socket Layer certificates and trust marks to remove any consumer doubts about the authenticity of a website. Careful shoppers can easily distinguish between fraudulent and legitimate websites with the resources currently available.
Ecommerce has enabled common citizens to not only buy products online, but sell them too. Auction sites like eBay let anybody list products, in exchange for a small fee. The reality that anybody can sell anything online has contributed to the huge success of online shopping. Many people can actually make a living selling things on eBay, without even having a website of their own.
What does the future hold for Ecommerce? Statistics predict that it will keep growing at an exponential rate, as more people become computer literate and more businesses expand their online campaigns. It is quite possible that in a few years, online businesses will outnumber brick and mortar businesses.
Enjoy the best online shopping mall and aviation industry news resource.
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
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