There is no luxury greater or more useful than that of owning your own plane. It’s a luxury that doesn’t come cheap and can require a lot of upfront work. That being said, it’s still worth it. Don’t believe us? Well, here are some of the biggest perks of owning your own plane.
Owning an airplane can be expensive. There is no way around that fact. Still, it’s worthwhile to weigh both the costs and the benefits when considering whether or not to purchase your own plane. If, for example, you travel a lot for work, you can likely offset the costs of plane ownership by how you use it. In fact, you’ll typically spend significantly less on a per-flight basis if you own the plane than if you’re taking commercial flight. In addition to the cost of the plane itself, you will need to pay for annual aircraft insurance, periodic maintenance, aircraft management, and, [...]
Let’s try a thought experiment: you’re a successful businessperson with a love for the open skies. You have the means to purchase an aircraft, but you aren’t sure which to choose. Should you pick a plane? And if so, what kind? Or, should you pick a helicopter? And if a helicopter how many rotors do you want? Is buying a helicopter different from buying a fixed-wing aircraft?
The short answer is well, yes! But that, of course, comes with some caveats. Keep reading to learn the difference between helicopters and fixed-wing aircraft. You can also browse our extensive inventory of everything that takes to the sky!
Different Types of Fixed-Wing Aircraft
The first thing we need to do is define exactly what a fixed-wing aircraft is. That is easier said than done because fixed-wing refers to just about any type of aircraft that uses its wings to lift into the air. A major characteristic of [...]
Buying an airplane for business or pleasure can be an incredibly exhilarating process. You’re investing in something that quite literally takes you to the sky and back. Make no mistake, though, it is an investment.
This can sometimes lead to buying an airplane to be tedious. You need to pay close attention to every detail. Nowhere is this more important than sales tax. Keep reading what you need to know about Florida sales taxes and buying airplanes.
Florida Sales Tax
Florida’s sales tax is 6%, which must be paid by everyone who buys an aircraft in the state. Online aircraft dealers and brokers are therefore required to collect this 6% sales tax from the purchaser at the time of sale or delivery. They then pay this to the Florida Department Of Revenue.
If you buy an aircraft outside of Florida and ship or fly, it here for primary use within the state, you [...]
Deloitte, one of the largest accounting firms in the world, says it best: “A joint ownership arrangement is an FAA-sanctioned agreement for more than one owner to share the cost of operating a single aircraft.” This is similar to fractional ownership, but usually more cost effective in the long run.
If you are looking to buy aircraft, we can help you out. Check out our guide to shared aircraft ownership.
Once you have decided to co-own an airplane, it is a good idea to draw up a list of obligations for all of the owners. It is likely that you are getting into this with someone you know very well, and trust. Still, it is valuable to list out who is doing exactly what straight [...]
Worldwide revenues for airplanes topped $20 billion in 2016. We can attest to the fact that buying and selling aircrafts is a massive industry, but we want to break it down even further. We can help make buying an aircraft as enjoyable as flying one. Keep reading for tips on how to buy or sell planes, and our picks for the best times to buy and sell.
Buying an Airplane
Before you consider buying an airplane, it is a good idea to think about what you will be using it for. You need to ask yourself what your mission is, and how to best achieve your goals. This may help determine when the optimal time for buying a plane is.
If you are using your airplane professionally, you may be eligible to write off expenses related to purchasing the plane. Certain considerations, like the hobby loss rule, may affect how much money you have [...]