Personal vs. Business Ownership

[jimmuse]

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

Jim, try:

Advocate Tax

they might have the advice you are looking for

[jimmuse]

Thanks,

It looks like you may be right.

Jim