Gary I. Horowitz


Articles:

  • Tuesday, March 18, 2014
    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 purposes and how the IRS and courts approach cases involving...
  • Tuesday, June 19, 2012
  • Tuesday, November 2, 2010
    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 continues past the closing date is clear title. In this era of...
  • Monday, November 2, 2009
    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.
  • Monday, May 4, 2009
    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 is not careful, a distressed seller can back out of a deal...
  • Monday, September 1, 2008
    Many large corporations own private aircraft for business purposes and to provide senior executives with efficient, fast, safe and secure transportation. However, aircraft-related liabilities can affect both the seller and acquirer during the acquisition, sale, merger or reorganization of a business enterprise in many areas, including civil aviation,...
  • Saturday, December 1, 2007
    In recent years, the media, U.S. Internal Revenue Service and U.S. Securities and Exchange Commission have expressed some disapproval of private aircraft use by businesses. There is a general perception that personal use of business aircraft is extravagant and difficult to justify (despite longstanding and numerous FAA, IRS and corporate rules governing...