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#1
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Personal vs. Business Ownership
I currently own a '67 B which is registered as a personal a/c.
I use the plane for business quite a bit, and since I am considering a newer model, I wonder if anyone in this group has any information/recommendations about whether it is better to own personally and get reimbursed for usage, or to have the business own it and reimburse for personal use. I understand that personal use of bus jets is 20.4 cents/passenger mile. This can be reimbursed or taken as additional income. But with a Skymaster, would it be simpler (and legitimate) to reimburse for an hourly rate based on total operating costs? or some other measure? Any information would be appreciated. Jim |
#2
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#3
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Thanks,
It looks like you may be right. Jim |