Recently one of our trade association clients learned that bankruptcies can be painful for creditors, sometime even years after the debtor files for bankruptcy. Our client only discovered that a judgment in excess of $86,000 had been entered against it as a result of a preference action (a suit by a debtor or its trustee […]
Careful implementation and thorough recordkeeping are essential when supporting tax deductions. A Necessity when Claiming Deductions
Carriers have recently escalated their efforts to recover demurrage claims against shippers and non‐vessel operating common carriers (NVOCCs). This places NVOCCs in a very difficult position as often NVOCCs are not able to prevent such demurrage and detention charges from continuing to accrue. For example, if Customs officials in China, India or elsewhere hold cargo for extended […]
Court Dismisses Demurrage Claim Against NVOCC
Obtaining authorization from the FAA to conduct flights for compensation and reward,even if all passengers are employees of aparticular company, is sophisticated and time-consuming. View as PDF
Using IRS Form EZ to Set Up a New Foundation
With careful planning, a business aircraft purchaser can substantially reduce or completely eliminate sales and use tax liability on a business aircraft purchase, advises attorney Chris Younger. Business Aircraft Sales Tax Planning: Sales and use tax considerations.
Taking Images and Articles from the Internet
IRS treatment of business aircraft is similar to other corporate assets, notes attorney Troy A. Rolf. What Tax Breaks for Billionaires?
Terminating a Difficult Employee