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Thomas Alston's Articles in Taxes

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AeromarineTaxPros.com: Hook Up With The Tax Pros At The Beginning When Michael Thibodeau contacted the California Board of Equalization (BOE) in search of advice, he thought he was taking a prudent action, never dreaming that the advice he got would lead to a ruinous tax bill. AeroMarineTaxPros.com: Misapplying Board Annotations Will Result In A Tax Liability A recent case demonstrated how taxpayers can be at a disadvantage when it comes to understanding how to legally avoid sales/use tax. The taxpayer purchased his aircraft outside the State of California and intended to support a claim for exemption based on commercial use in his own business. AeroMarineTaxPros.com: Corporate Profits Down, Prompting Aircraft Purchasers to Avoid Sales Tax Second quarter S&P 500 profits are expected to fall at a rate of 10.2% down from last year. This is causing more corporate executives who need to purchase aircraft to turn to firms that help them avoid paying sales tax on the purchase. AeroMarineTaxPros.com: Transfer of Tangible Personal Property - Regulation 1595, Part 2 By transferring ownership of an aircraft from one entity or individual to another, a sales/use tax liability can be created. There are different types of transfers of ownership. AeroMarineTaxPros.com: Transfer of Tangible Personal Property - Regulation 1595, Part 1 When contemplating the purchase of an aircraft, a potential owner must consider the ownership structure that will best suit their needs. Often, only afterwards, does the owner realizes they don't own the aircraft in the entity that is most beneficial for tax purposes or that limits their liability. AeroMarineTaxPros.com: The Truth About Using a Common Carrier Exemption Often people ask my opinion of the various exemptions that can be used to exempt an aircraft from California sales and use tax. I have a canned response that runs them briefly through the available methods. Aeromarinetaxpros.com: Contrary to What Is Being Said, There Is No Part 135 Sales Tax Exemption for Aircraft During the everyday conversations of aircraft dealers, brokers and prospective buyers the belief is being enforced that a Part 135 exemption exists in California. This belief is dangerous and misleading.