Media Mentions
2008
David DeYoe was quoted in the March issue of Worth Magazine regarding the risks related to putting a private plane in an LLC. Mr. DeYoe discussed how private planes held in LLCs could be viewed as commercial aircrafts by the FAA, which could in turn invalidate insurance and legal protection. Under these circumstances "you haven't shielded anything," Mr. DeYoe said.
David P. DeYoe, Aircraft Acquisition and Operation, Corporate, Private Client
2006
David Fuller was quoted in the March 2006 issue of Corporate Counsel in an article about how businesses will have to more often publicly report when CEOs use the corporate jet for personal trips if the U.S. Securities and Exchange Commission adopts new rules on executive compensation. "Personal use of corporate jets has tripled over the past decade," according to a survey of proxy statements conducted last year by Mr. Fuller. "The rise can be partly attributed to 9/11," he said.
David R. Fuller, Aircraft Acquisition and Operation, Tax
David Fuller was quoted in the February 20 issue of National Law Journal in an article about how businesses will have to more often publicly report when CEOs use the corporate jet for personal trips if the U.S. Securities and Exchange Commission adopts new rules on executive compensation. Personal use of corporate jets has tripled over the past decade, according to a survey of proxy statements conducted last year by Mr. Fuller.
David R. Fuller, Aircraft Acquisition and Operation, Tax
2005
David Fuller was quoted in the June 28 issue of the Financial Times in a column about business owners and executives using corporate jets for personal travel.
David R. Fuller, Aircraft Acquisition and Operation, Tax
David Fuller was quoted by Bloomberg on June 7 regarding executives' personal use of corporate jets and a new rule by the IRS that limits deductions for all costs of flying company jets when used even partially for personal reasons.
David R. Fuller, Aircraft Acquisition and Operation, Tax
2004
David Fuller was quoted in "Personal use of corporate jets flies on IRS radar," published in the Chicago Tribune on January 25. The article discusses the personal use of corporate jets by executives, including those of Hollinger International. David provided extensive tax background to the article's discussion regarding the valuation and income inclusion of the personal use of corporate jets by executives, including the IRS' increased scrutiny of such use as part of its executive compensation audit initiative. Referencing the IRS' increased scrutiny of the personal use of corporate jets, David commented, "We are already seeing it. We just finished an audit where the corporate jet was a big issue." Commenting on the role of corporate security and aircraft valuation issues, David warned that "It's a dangerous gamble" to fail to follow the IRS special valuation rules for security-related travel.
David R. Fuller, Aircraft Acquisition and Operation, Executive Compensation, Fringe Benefits, Tax
David Fuller was quoted on the front page of The Washington Post business section on January 20 in an article reporting on tax breaks for company aircraft. Mentioning MWE's recent seminar on owning and operating private aircraft for business owners, Mr. Fuller stated that considerable tax advantages are available for such aircraft. Although noting limitations exist, David explained that an S corporation shareholder who uses a plane for travel that produced $5,000 in personal taxable income might receive $100,000 in deductions as his or her share of the plane's cost, for a net deduction of $95,000. "It's a great benefit," commented Mr. Fuller
David R. Fuller, Aircraft Acquisition and Operation, Executive Compensation, Fringe Benefits, Private Client, Tax
