Written by Delvecchio

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Top Ten Myths of Aircraft Ownership

Written by Pat Redmond

1. Onlyrepparttar rich can afford one. . .

Not so! Many aircraft owners are earning moderate incomes. How do they do it? Mostly through proper planning and a thorough education prior to making their purchase. You can learn about many aspects of purchasing an airplane at


a website that's nothing more than a compilation of helpful resources for those who want to learn!

2. You must fly at least 50 hours a year before an aircraft purchase is justifiable.

Well, it really depends on what you're using as a reference. If you're trying to beatrepparttar 116302 cost of renting. . . find another way. If you have some business use, rental use or a need to access an airplane on demand your own aircraft is certainly justifiable. Read more at http://www.aopa.org/members/files opics/business_overview.html

3. If my business use is notrepparttar 116303 majority of my flying, I can't depreciate my airplane.

Wrong once again! Usingrepparttar 116304 Sutherland Lumber case as precedent, you may be able to depreciaterepparttar 116305 majority ofrepparttar 116306 value of your aircraft with as little as 27% business. Using Aviation Tax Specialists is critical when planning tax strategies for ownership of your aircraft. You can learn more at http://www.advocatetax.com

4. It's cheaper to own an older aircraft than a brand new one.

Probably not! With today's tax incentives, better interest rates for new airplanes andrepparttar 116307 controlled maintenance costs that a warranty provides, in most cases a brand new aircraft is less expensive. Additionally, your flying comfort level withrepparttar 116308 dependable instruments and equipment of a new airplane will confirm your decision to buy new.

5. Aircraft Salespeople are all "slime."

My favorite! Sometimesrepparttar 116309 reputation of a few can tarnish an entire industry! Not to worry. . . There are some great salespeople out there who have your interest as their main objective. For 10 tips to choosing a super salesperson, visit http://www.airplanenoise.com op_ten.htm

6. I found a "cream puff" with a low-time engine!

Think that low-time engine is a good thing? Think again! The best thing you can do for an airplane is FLY IT! Don't be fooled by this myth. . . It'll cost you! http://www.lycoming.textron.com/main.jsp?bodyPage=/support/publications/keyReprints/general/lowTimeEngine.html

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