Aero & Marine Tax Professionals Releases Money Saving White Paper
White Paper Tells Aircraft Purchasers How to Save Thousands on Sales Tax
Elk Grove, CA: Aero & Marine Tax Professionals, a firm that consults business owners in California and Arizona on how to legally avoid paying sales tax on aircraft purchases, has released a white paper entitled “How to Save Thousands of Dollars on Your Aircraft Purchase.”
Business owners or individuals purchasing aircraft are faced with confusing regulations and a great deal of misinformation on what they need to do to avoid paying the tens of thousands of dollars in sales tax on their purchase.
Tom Alston, CEO of Aero & Marine Tax Professionals, stated “Many buyers listen to the free advice that inevitably comes once they first enter the sales cycle for an aircraft purchase. The sales person who generally works with the belt and suspenders clients often takes the most conservative approach and advises against ‘risky tax schemes.’ The wheeler-dealer salesperson blabs on about the latest trick and pats the back of his new client while he croons, ‘trust me, it is easy to get out of the tax.’ Neither approach will serve the new owner very well. The basic problem is that, unlike federal tax advice which is based on a code that applies everywhere in the United States, sales tax laws depend on the codes written in each separate state. Currently five states have no sales and use tax. However, that leaves forty-five others that will require proper research. Unless you have nothing to do but spend your entire life doing sales and use tax research, it is impossible to keep track of the constant changes state-by-state. The basic problem with implementing a credible tax strategy for an aircraft or yacht purchase is that the buyer must mesh the details of a strategy that reduces the income tax obligation, minimizes the capital gains tax, reduces property tax and quite possibly eliminates the sales/use tax. But if you develop a competent strategy and implement it properly, it is quite possible to avoid paying any sales tax on your aircraft purchase in California and Arizona.”
Aero & Marine Tax Professionals has helped hundreds of clients in avoiding paying sales tax on aircraft, vessel and large vehicle purchases. Tom Alston has written many California sales and use tax articles for the following publications, The Successful Accountant, Inflight USA, The Log, San Diego Business and Aviation Journal, Van Nuys Business and Aviation Journal, Orange County Business and Aviation Journal, Sacramento Business Journal, Latitude 38 and other legal and professional journals. He is the publisher/editor of a publication called “TAX MATTERS,” which is dedicated to keeping California owners of aircraft and vessels informed about taxes. Anyone interested in receiving a copy of the white paper, “How to Save Thousands of Dollars on Your Aircraft Purchase,” can download it at http://aeromarinetaxpros.com/White-Paper.