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Stewart Lapayowker Appears on The Pay & Proxy Podcast

Lapayowker Jet Counsel • April 1, 2024

With the Wall Street Journal highlighting a significant increase in personal use of corporate aircraft in recent years, and the IRS initiating an “aircraft audit” program to scrutinize whether companies have been improperly claiming deductions for airplane expenses used for personal travel, as well as whether individuals have accurately reported income from personal travel benefits, it appears to be an opportune moment to delve into the latest in compliance and disclosure related to the personal use of corporate aircraft.

In this episode, Stewart Lapayowker of Lapayowker Jet Counsel, along with Brad Goldberg, a Partner at Cooley in New York City explore:

  • The surge in demand for corporate aircraft by businesses and executives, especially during and in the aftermath of the pandemic.
  • The tax implications for both corporations and their executives.
  • Insights into the IRS’s audit strategies.
  • How commuting benefits and the rise of remote work add complexity.
  • The growing trend of executives or board members buying their own aircraft.
  • Considerations for related party transactions when a company leases an aircraft from an executive or board member.
  • Strategies for ensuring and enhancing your company’s compliance and documentation practices.

Delivery Conditions: Fundamental Assumptions that an Aircraft Buyer Assumes When Agreeing on Price

By Stewart Lapayowker • October 20, 2020
An offer to purchase an aircraft customarily includes a variety of terms, chief among them the purchase price that the buyer will pay and a list of technical delivery conditions (inspections current, airworthiness directives complied with, complete records, etc.). During the pre-purchase inspection, the inspection facility performs an independent evaluation of the aircraft and issues… The post Delivery Conditions: Fundamental Assumptions that an Aircraft Buyer Assumes When Agreeing on Price first appeared on Lapayowker Jet Counsel.

The Hokey Schemes Are Back!

By Stewart Lapayowker • October 9, 2020
It seems like every time there are new entrants to the aviation market (in this case driven by the correct perception that private aircraft are safer than airlines when it comes to exposure to COVID-19), the old shenanigans raise their ugly heads. These new seekers of safe flying  are not experienced in business aviation, including… The post The Hokey Schemes Are Back! first appeared on Lapayowker Jet Counsel.
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