Flying My Business Partner and Myself to Client Meetings
Asked by: Luke 5465 views Private Pilot
Here's the scenario:
My business partner and I buy a plane (we are in a two-person LLC so it could also be the LLC buys a plane). I, holding a private pilot's license, fly us to business meetings.
Today, we fly commercial (150-200 flights per year) for which we are personally reimbursed by the clients through our company.
Logically, we would like to continue to be reimbursed for the cost of travel.
Can we:
1. Bill and be reimbursed by the client for our costs when I fly our plane without going afoul of the faa regulations for private pilot?
- We both own the plane, so it could be rented, prorated to each passenger, etc.
- If not, what ratings would I need to have?
2. Depreciate the plane without going afoul of the IRS?
I would likely fly the plane a limited amount for non business purposes (fly it to service centers, conduct supplemental flight training, etc.)
I appreciate any guidence on where to look on this including any referrals on who I can talk to in depth.
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