Gary I. Horowitz

Wiley Rein LLP

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Recently by Gary I. Horowitz

Tax

The $11.2 Million Conference Table: Business Aircraft Upgrade Creates A Large Tax Bill

The U.S. Tax Court denied an aircraft owner the “bonus” tax depreciation available for business aircraft because it did not have a conference table. Despite the adverse result, the case offers valuable lessons on how to use, and substantiate the use of, business aircraft for tax...

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Aviation | Transportation

Aircraft Tax Audits – A Game Of Tomes

Private aircraft owners and operators are well aware that aircraft are particular targets for federal and state tax audit, but that’s OK. Knowing that the tax audit risk is there, and knowing what tax auditors are looking for, is an opportunity for proper aircraft ownership and operations...

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Clear Title - Looking Beyond The FAA Registry When Buying A Corporate Aircraft

Clear title. It is the single most important element in an aircraft transaction. It is the one objective that cannot be compromised and the one condition to closing that, if unsatisfied, will end a transaction. Generally, the only commitment (a warranty) that a seller makes to the buyer that...

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Business Aircraft Purchasing Protocols

After more than a year of collapse and stagnation, business aircraft sales are recovering. This is a good time to (re)consider how you approach a corporate aircraft acquisition. The acquisition of an aircraft for corporate or personal use is inevitably a unique transaction for the buyer. It...

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Buying Aircraft From Distressed Sellers

When buying an aircraft from a seller under financial stress, the first thing a potential buyer usually thinks is, "I've got the leverage and I'm going to get an amazing deal." The buyer may get a bargain, but there are some unusual risks involved when buying from a distressed seller. If a buyer...

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