As 2018 comes to a close, it’s a good time to review recent tax changes that can provide significant planning opportunities for business aircraft owners and operators. Passage of the Tax Cuts and Jobs Act in late 2017 brought about a number of changes, including 100 percent bonus depreciation on new and used qualifying property […]
In November 2018, GKG Law, on behalf of the American Fuels & Petrochemical Manufacturers Association (AFPMA) and the International Liquid Terminals Association (ILTA), submitted an amicus brief to the United States Supreme Court on petition for a writ of certiorari. AFPMA and ILTA have members who are stakeholders in the maritime transportation, storage and oil […]
On December 10, 2018, the Internal Revenue Service (“IRS” or “Service”) issued Notice 2018-99 and Notice 2018-100 which interpret and provide administrative guidance and transition rules relating to new Internal Revenue Code (“Code”) §§ 274(a)(4) and 512(a)(7)—the dreaded parking benefit addition to unrelated business income taxes. These notices provide the first published guidance available to […]
On Tuesday, December 11, 2018, GKG Law's Keith Swirsky led a detailed webinar on the topic “Federal Income Tax Treatment of Personal Use of Aircraft." The webinar provided an overview of federal tax issues that arise due to personal use of business aircraft including income inclusion rules, excise tax implications of cost reimbursements, effect of personal use […]
On Tuesday, November 20, 2018, GKG Law's Troy Rolf led a detailed webinar on the topic “TCJA Update Provisions.” The webinar consisted of a review of several TCJA provisions impacting business aviation, including new restrictions on the deductibility of entertainment and commuting expenses; changes to the applicability of federal excise taxes to managed aircraft; increases in Section […]
Effective at 12:00 a.m. Eastern Standard Time, November 5, 2018, the U.S. fully re-imposed the primary and secondary sanctions on Iran that were in place prior to the Joint Comprehensive Plan of Action (“JCPOA,” or the “Iran Nuclear Agreement”). In addition, the U.S. government has designated numerous additional entities in the financial, shipping, and energy […]
GKG Law’s Rich Bar and Katie Meyer were featured speakers at the 2018 Institute for Credentialing Excellence (ICE) Exchange in Austin, TX, November 6 – 9, 2018. Rich and Katie, along with Stephen Fletcher of the American Board for Certification in Orthotics, Prosthetics, and Pedorthics, presented the session, "Avoiding Common Pitfalls in the Ethics and Disciplinary Process," on Wednesday, November 7th. This session addressed […]
On Tuesday, November 6, 2018, GKG Law's Keith Swirsky led a detailed webinar on the topic of bonus depreciation. This webinar consisted of an update regarding the availability of bonus depreciation and rules relating to the application of bonus depreciation in the context of an aircraft acquisition. Full audio of the webinar can be accessed here https://attendee.gotowebinar.com/recording/4572399763089272066. 2018 […]
GKG Law's Steve Fellman, a member of the firm's Association Practice Group, led a table discussion at ASAE's Associations @ Work Business Conference on October 29th in Washington, DC. At the request of ASAE, Steve facilitated the topic of Antitrust. More information on this event can be found here.
As many organizations have learned, on May 25, 2018, the EU implemented the General Data Protection Regulation (“GDPR”), which imposes obligations and liability on U.S. organizations that have control over EU residents’ personal data (“Controllers”) or that process EU residents’ personal data on behalf of other companies (“Processors”). The GDPR regulates how companies collect, use, […]