Interest Rates
Lowest in years
It's a great time to buy!
Interest rates are presently the
lowest in years and Bonus Depreciation Returns For
Aircraft Purchases making it a great time for Aircraft Investments
Recently, Congress passed “The Recovery Rebates and Economic Stimulus For
The American People Act of 2008”. Great news for aircraft buyers and it
includes both new and used aircraft. The Act provides for significant
acceleration of deductions. The aircraft must be used more than 50% of the
time for business travel, the taxpayer cannot make capital investments
exceeding $1,050,00 per year. If the taxpayer invests less than $800,000,
he/she is entitled to expense the first $250,000 and then calculate
depreciation on the balance.
There is also a taxable income limitation. The maximum amount that a company
may expense is restricted to the amount of taxable revenue from all combined
business activities and does include wage income paid to taxpayer(s)
for the purpose of this calculation. Naturally, it is wise to seek
professional accounting assistance when determining whether a purchase
qualifies under the Act.
Interest rates are presently the lowest in years. Most lenders nationwide
offer terms to twenty years and require a minimum of ten percent down
payment. Interest paid throughout the taxable year may also be expensed as
in the past. Now, more than any time in the past, aircraft ownership makes
financial sense.
Aircraft Banking Centers, Inc.
David R. Madden –
Executive Vice President/Airline Transport Pilot
Aircraft Banking Centers, Inc.
offers long term, fixed and variable rate aircraft financing programs as
well as acquisition consulting and appraisals.
Click here for more information
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J Chris Higares, with over 39
years in aviation, understands the aviation industry as well as customer
service. As the owner and managing member of AirCal Jet Sales, LLC, he knows
what’s going on in all aspects of his company, from selling, acquisitions,
management, appraisals, consulting, finance, pre-buys, RVSM manuals and aircraft
maintenance invoice reviews.
“I worked for
Cessna for five years and it’s
something that I’m comfortable with” Higares explains. Higares worked in the
maintenance department of the Citation service center in Long Beach, California.
His aviation career then led Higares to Boulder, Colorado and then finally
Wichita, Kansas. A native Californian, Higares has led a life full of aviation.
As a civilian he was a civil service aircraft apprentice and graduated to
journeyman aircraft mechanic for the Navy and worked on a variety of Navy
military aircraft. He joined the Navy and would progress to first in his class
in jet engine mechanic training and become crew chief on P-3A Orion
aircraft.
Civilian life would lead him
to commercial airlines where he would become a mechanic and later promoted to
supervisor on wide-bodied aircraft. His desire and passion to increase his
aviation knowledge led him to the world of corporate aviation.
"Primarily, we handle the marketing and sales of new and used Citations and
other corporate aircraft," Higares says. "But we also have another entity within
AirCal Jet Sales." Aircraft RVSM Services, LLC (www.fl290.com)
complements the brokerage aspect of AirCal Jet Sales, LLC in a very interesting
way. "It's an FAA requirement that RVSM manuals be on an airplane in order for
aircraft to fly above 29,000 feet. The manual explains regulations, maintenance
and operations procedures."
The FAA mandates that a new
manual and LOA be written when an aircraft is sold. Higares specializes in
creating these manuals for his clients. "I have a pretty good reputation in the
industry, I think," says Higares. "We seem to be getting good responses from the
manuals. Lots of repeat clients that I know through the brokerage side are
calling on me to produce these manuals as well as new clients."
AirCal Jet Sales, LLC also has a third entity within its parent company.
Aircraft Evaluation Services, LLC will give evaluations and appraisals on
aircraft. This service extends to both individuals and financial institutions.
"We offer appraisal, analysis and assessment (ACES) reports which will keep you
up to date with the new and used aircraft market," explains Higares. These
reports help the client to know what the value of their aircraft is as well as
how to plan for major and/or cosmetic expenditures. Higares understands that
each customer is an individual with their own unique needs for each aircraft
transaction and offers his services to the corporate end of General Aviation,
focusing on jets and turbo-props. Of course, his primary interest lies with
Citations, but he also extends his expertise to King Airs, Leer Jets, Hawkers,
Pilatus and GulfStreams.
So how does AirCal Jet Sales
take care of the customer as an individual? The relationship is managed and
maintained by taking the initiative; being positive and paying attention to
details and making sure the customer's needs are being met. AirCal Jet Sales,
LLC also takes pride in listening to and understanding the needs of their
clients, being helpful and remembering that each client and transaction is
unique. "Right below our logo, it reads 'Service Excellence,''' says Higares.
"We pride ourselves on treating every deal as unique and separate-they are not
all the same and shouldn't be treated that way. The airplanes may be similar but
the owners and pilots have their unique requirements." It's this passion towards
customer appreciation that sets AirCal Jet Sales apart from other aircraft
brokerage firms.
For
more information,
click here
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