The Internal Revenue Service has specific rules for tracking and reporting business use of aircraft. States also have specific rules that must be followed when deferring or reducing sales and use taxes. Failure to follow the reporting rules can lead to loss of deductions and unnecessary tax expense. Flight Tax Systems (FTS) is designed to assist with the required documentation and reporting.
Please visit the other pages within this section to learn more about specific IRS rules and regulations, and visit our Features & Pricing page to learn more about how FTS addresses these reporting rules.
Flight Tax System's parent company, Wolcott & Associates, P.A., is comprised of seasoned business aviation industry financial and tax experts. We provide a wide range of services, including consultation services to assist our clients with their specific needs and unique circumstances.