N291WD Registration Data
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Forming a Corporation: Works Well For Groups
Prospective aircraft buyers must decide how to structure the ownership of the airplane. For an individual, the options are to put it in the owners name or to form a corporation to own the airplane. with the individual as the sole shareholder. (An L.L.C. is so nearly identical that we'll use the word corporation to cover both.) If there is to be more than one owner, the aircraft may be owned as a partnership, with each owners name showing on the registration, a limited partnership (so rare in general aviation that we'll ignore it here) or as an asset of a corporation with the owners being shareholders. The quick and dirty advice for which is best is simple: For an individual, a corporation does not provide any advantage unless the owner/pilot is doing significant charitable flying (medical mercy, environmental, etc.) and wants to use the available tax deduction for renting the airplane to him or herself. For group ownership, a corporation provides benefits that are worth exploring if the owners are willing to do the paperwork, reporting and file the required tax returns.
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Cirrus: A Sober Look
A series of accidents has tarred the reputation of what was supposed to be the safest GA airplane ever made. But is that an accurate picture? An honest look at the Cirrus accident record.
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Cirrus versus Diamond
In a warts-and-all flyoff between the SR20 and DA40 Star, Cirrus wins on capability but the Diamond flies better.
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