Just purchased my first Bonanza and want to set up LLC for aircraft. Looking for any advice for accounting or best practices to ownership in LLC. LLC is the easy part. Knowing how to handle the taxes is a little more challenging.
Would definitely reach out to Nick Romer of Vero Beach, Florida. Very experienced with all things "aircraft ownership." I have personally used his services for over 25 years. 800-836-0012 or email@example.com.
AOPA legal referred us to Bart at Business Aviation Law Group who did some stuff for our partnership (they're in FL but we're actually in CA). We were pretty happy with them and I also have some friends who have used them more for leaseback type arrangements or just figuring out the best way to navigate (property and income) tax issues for personal purchases. Everyone I know has been happy with them.