AircraftLogs "cracked the code" for aviation tax. You don't need to research the rules governing use of the aircraft - and then learn how to calculate them. AircraftLogs builds in the reporting requirements. You provide your flight data - and it provides the results!
You can also schedule reports to be delivered via email, providing a chance for a quick tax review of weekly or monthly recent flights, eliminating large quarterly or annual flight review projects.
Companies with corporate jets face several complex issues regarding the tax treatment of passenger travel, including use by senior management and NEO's (named executive officers). AircraftLogs simplifies the work required to track these issues, eliminating weeks of effort for the tax and accounting departments.
Because of the time and effort required, most companies only perform their disallowance calculation using one of the four methods available - potentially losing significant deductions.
A senior IRS representative stated that 25% of large companies incorrectly perform SIFL calculations. SIFL is a safe harbor, and failure to perform these calculations exposes your senior management team to a risk that all imputed income must revert to significantly higher charter rates and fair market values. In addition to the negative impact on your company's tax situation, this could significantly impact the personal tax returns of your management and employees.
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