The S corporation is becoming the business entity of choice, especially among small to medium-sized owners.

Tax efficiency, ease of ownership, and operational simplicity are just a few reasons why you may choose an S corporation for your business structure.

But when it comes to aircraft ownership, S corporations may leave you and your tax savings grounded.

This article will explore the top three pitfalls of an S corporation owning an aircraft and the strategies you need to know to avoid tax headaches.

1. Basis Limitations

The tax code makes it incredibly difficult for business owners to deduct losses, especially S corporation owners. From basis limitations to the recent addition of the excess business loss limitation rules, it is becoming more difficult for you ... Log in to view full article.