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 House Ways And Means Bill To Extend Research And Development Tax Credits Through 2012, Change Depreciation For Corporate Jets |
On July 12, Democratic members on the U.S. House of Representatives Committee on Ways and Means introduced legislation, the Investing in American Innovation Jobs Act of 2012, to extend the Research and Development (R&D) Tax Credit through December 31, 2012. The R&D Tax Credit, a 20 percent credit for research expenditures, provides incentives to companies to invest in research and job development. The introduction of this bill is one of four measures brought by Democrats to spur job growth. Despite broad bipartisan support, the previous legislation expired in December 2011.
The legislation lays out ways that the measure would be paid for, including the elimination of “special” depreciation for corporate jets. Currently, business jets are depreciated over five years and commercial aircraft are depreciated over seven years. Under the proposed bill, the recovery period for business jets would change to that of commercial jets. “There is no reason that jets used for different purposes (general vs. commercial aviation) should have different class lives,” a press release by the committee states.
The legislation is currently under committee review, where support for the bill is being urged.
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The deadline to submit comments for the AOPA/EAA petition for exemption from the FAA medical certificate has been extended to September 14. Comments may be submitted by clicking here.
The petition seeks to allow pilots of both associations to fly recreationally (day VFR in an aircraft with a 180HP or less engine) without an FAA medical certificate. Those pilots electing to take advantage of the requested exemption, and not obtain a medical certificate, would be required to complete a free online course on flight physiology every two years and complete a medical self-assessment before each flight.
NATA supports the petition in that it will benefit general aviation safety and the public. Pilots who complete the flight physiology course will be better able to assess their own physical health before every flight. Relieving pilots of the burden of obtaining an FAA medical certificate would be a great incentive to keep existing pilots flying as well as introducing new pilots to aviation.
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| Weekly Regulatory Update |
Relevant updates from the FAA, U.S. Environmental Protection Agency and the Department of Homeland Security are compiled each day from the Federal Register. The latest notices, rules and proposed rules can now be found in a single source by clicking here.
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Congress created different taxes for commercial and non-commercial aircraft operations. In both cases, taxes collected are for the benefit of the Airport and Airway Trust Fund. The commercial federal excise taxes are imposed on amounts paid by passengers on the airlines and other commercial air carriers. Non-commercial excise taxes are applied on the fuel used in private or general aviation operations. The IRS has generally chosen to ignore how the FAA regulates operations and, instead, makes its own determination (IRS Revenue Ruling 78-75). Despite decades of accepted practice, the IRS is now attempting through a Chief Counsel Advice (CCA) memorandum issued in early March to expand the scope of operations covered by commercial taxes to those that are clearly private in nature.
To assist members in fully understanding the impact that this CCA is already having on the aircraft management community, NATA has developed a three-part webinar series with leading subject matter experts. This series will provide a comprehensive overview of the issues in the CAA, how members can prepare for an audit, how aircraft management agreements could be revised and how to achieve balance between IRS FET issues and FAA operational control issues for managed aircraft that are also utilized in Part 135 operations.
All webinars will feature ample time for attendee questions. All webinar revenue will be applied to NATA's advocacy and communications efforts in opposition to the expansion of commercial excise taxes to private flights.
Dates:
July 11 - The Audit Process (Webinar Recording)
July 18 at 12:00 EST - Prospective Preparation and Planning Opportunities
July 25 at 12:00 EST - Achieving Balance
Click Here to Register for All Three Webinars ($249) – If you register for all three webinars, you will receive a link to the recording of the July 11 webinar on The Audit Process hosted by Nel Stubbs as well as information on attending the two upcoming webinars.
Webinar 2 of 3 - Prospective Preparation and Planning Opportunities $99.00
This second webinar in the series will help operators providing management services to understand better if and how they should approach possible revisions to their management agreements in light of on-going audit activity and the issues highlighted in the CCA.
Webinar Speaker: Keith Swirsky, GKG Law, P.C. - Bio
Date: July 18, 2012 at 12:00 EDT
Click Here to Register for Webinar 2 Only
Webinar 3 of 3 - Achieving Balance $99.00
The third webinar in our series will provide a summary of the prior issues and questions discussed and provide operators with an understanding of the need to ensure that proper FAA operational control standards are adhered to while operators at the same time endeavor to position their business best for potential IRS audits.
Webinar Speaker: Kent Jackson, Jackson & Wade, LLC - Bio
Date: July 25, 2012 at 12:00 EDT
Click Here to Register for Webinar 3 Only
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Tax Seminar Specifically For Commercial Operators
Scottsdale, AZ, August 7-8 |
NATA and Conklin & de Decker Associates, Inc. continue to offer the only tax seminar for commercial operators. The Commercial Operators Tax Seminar (COTS) deals with taxes that you, the commercial operator, face every day in your operations. Federal excise taxes, fuel taxes, sales and use taxes, personal property taxes, depreciation, international fees and more are covered in this seminar. In addition, a comprehensive review of the Federal Aviation Regulations and topics that should be included in charter/management and management agreements is included. Ample time will be allowed for questions and answers during each session as well as prior to the conclusion seminar. Click here to register now.
Featured Speaker:
Keith Swirsky, GKG Law P.C., President
Keith Swirsky is president of GKG Law, P.C., headquartered in Washington, DC, which specializes in transportation law. He is also chairman of the law firm’s Business Aircraft Group and Tax Group. With over 27 years of private law practice experience, Swirsky has marshaled extensive knowledge of federal aviation tax, commercial law and regulatory issues. Today, the law firm is one of the leading practices in the world, primarily devoted to aircraft acquisitions and sales, federal and state taxation, financing and tax-free exchanges. Swirsky counsels on a wide variety of aviation matters, including tax efficient structures, business terms and documentation pertinent to purchases and sales (both new and used), external management arrangements, financing, tax-free exchanges and fractional operations.
Keith Swirsky will host the second in a series of webinars on the Application of Commercial Taxes to Private Flights. His webinar (on July 18) is called "Prospective Preparation and Planning Opportunities." If you are interested in more details on this webinar or others in the series click here.
This year's COTS seminar takes place August 7-8 at the Scottsdale Plaza Resort in Scottsdale, Arizona. To register today, click here.
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Last LSST And Safety 1st Trainer Seminars Of 2012 In September
Fall Seminars Coming To Dallas, TX |
LSST Seminar – September 12-13
NATA’s Line Service Supervisor (LSST) seminar provides the training line service supervisors need to become more proficient in strategic planning, supervising staff, motivating others, communicating and coaching a team.
Who says learning can’t be fun? NATA’s LSST seminar is a high-impact, high energy seminar and includes guided group debates, role playing, interactive games and various case studies designed to take your line service supervisors to a new level of leadership.
Dr. Todd Dewitt, Reed Fuller, Christine Hill and Mike France will be part of the September LSST speaker lineup. Knowledgeable, motivational, informative, fun and meaningful are just some of the adjectives attendees from the past seminars are using to describe these speakers.
Supervisors will return from this seminar armed with the techniques and knowledge to lead others with confidence and equipped with tips and ideas from speakers and peers to put into practice right away.
Click here for more information on NATA’s LSST seminar in Dallas.
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| NATA’s Safety 1st Trainer Seminar – September 14 |
NATA’s Safety 1st Trainer seminar will be held in the same convenient location as the LSST. NATA’s Safety 1st Trainer Seminar delivers the in-depth instruction necessary to make these employees more effective line service supervisors and teachers. In the seminar, trainers will learn how to engage a variety of students, increase learning retention, present lesson plans effectively, and identify student verbal and nonverbal cues as well as many other skills. The seminar also includes instruction on the industry’s premier program for initial and recurrent training of line service specialists – known as PLST online or Professional Line Service Training. Minimize employee time away from the office and travel expenses, while maximizing your line safety training.
Click here for more information on NATA’s Safety 1st Trainer seminar in Dallas.
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At the FBO Success Seminar in Dallas in September, Aviation Business Strategies Group will thoroughly examine three vital parts or functions of your FBO operations. We call it, “An MRI for Your FBO”
- M = Maximizing Profits
- R = Reducing Expenses
- I = Improving FBO Productivity and Bottom-Line Performance
This will be the first time the FBO Success Seminar is hosted at an FBO. While on-site, seminar attendees will be able to observe this award winning FBO in operation.
Topics covered include:
- Three key metrics to benchmark
- How to time fuel purchases to maximize profits
- The best retail sales strategy when fuel prices rise or fall
- Free money: The ins and outs of fuel hedging
- What to do when regular customers demand a lower fuel price
- Developing your own broker-based fuel pricing strategy
- Decrease credit card interest rates
- Lower insurance premiums
- Developing a favorable lease
- Positioning for merger, sale or acquisition
- Adding value with the ultimate customer service experience
- Low or no-cost promotion
- Legal aspects of running an FBO
Included are lively roundtable discussions, exchange of best practice ideas and ample time to interact with other FBOs. Click here for more details on this popular seminar or to register today.
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| Download The Latest Copy Of Chartering An Aircraft For Your Customers |
NATA updated its popular Chartering An Aircraft guide and made it available to members to download, free of charge, from NATA’s store.
Chartering An Aircraft provides your customers and potential clients with a tool to help them understand the benefits of on-demand air charter. The publication stresses the flexibility of chartering an aircraft, rather than flying the airlines out of a large international airport that may be hours away. With the ability to fly in and out of more than 5,000 general aviation airports in the United States – more than 100 times the number of those for the airlines – air charter enables you to take off and land within minutes of your final destination as well as fly in and out of an airport close to your home.
NATA’s guide to Chartering An Aircraft provides information to help consumers select the right charter provider for the right price while ensuring a safe and enjoyable flying experience. Download a copy from NATA’s store for your charter customers by clicking here.
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NATA Publications Summer Sale
Take Advantage of Great Rates Before It’s Too Late |
NATA is offering special rates on popular publications this summer. But the deals won’t last long – the special rate for the Will-Not-Carry Operator Hazardous Materials Training Manual only lasts through July 31, 2012, and the special rates on other listed publications only last through August 31, 2012. Don’t miss your opportunity to get these helpful publications for a discount.
The Will-Not-Carry Operator Hazardous Materials Training Manual (Special - $75 until July 31, 2012) is a downloadable and easily customizable publication that can be used to satisfy FAA requirements for will-not-carry operators to have a HAZMAT training program. Once purchased and downloaded, the operator simply updates the information in the highlighted fields with company-specific details and follows the straightforward guidance on complying with provisions of the Hazardous Materials Regulations (HMR), Title 49 Code of the Federal Regulations (49 CFR) and Title 14 Code of Federal Regulations (14 CFR). The regulations have changed. If you haven't updated your manual recently, you should download your copy today.
NATA is offering the next three books separately or together as an FBO Managers Resource Kit. The FBO Managers Resource Kit offers the best discount price for these publications: Only $469 for members.
The Community Relations Toolkit ($99 for members, if purchased separately from the FBO Managers Resource Kit) was developed to help airports expand community outreach efforts to airport neighbors and key stakeholders. This handbook has been developed to provide a guideline for community relations efforts.
Negotiating Aviation Agreements: A Guidebook for Building and Protecting Your Business ($299 for members, if purchased separately from the FBO Managers Resource Kit) is a resource for fixed base operators and specialized aviation service operations doing business at general aviation airports. Sample provisions and practical tips are included in this guidebook.
Refueling and Quality Control Procedures for Airport Service and Support Operations ($109 for members, if purchased separately from the FBO Managers Resource Kit) provides airport fuel service providers a comprehensive review of the many complex standards and requirements for the handling of aviation fuel in a way that is easy to understand. The incorporation of full-color photographs adds to the usefulness of the 2011 revision as a teaching tool for new and seasoned fuel handling technicians alike.
These publications and additional products are available at the NATA Store.
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NATA E-Learn Webinars
Click here to view a listing of archived webinar recordings.
NATA is the National Air Transportation Association
Founded in 1940, NATA aggressively promotes safety and the success of aviation service businesses through its advocacy efforts before government, the media and the public as well as by providing valuable programs and forums to further its members' prosperity.
National Air Transportation Association
4226 King Street
Alexandria, VA 22302
Phone: 800-808-6282
Fax: 703-845-8176
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