(If this goes to fruition, then all the Corp. presidents, VP’s, CFO’s etc…must be required to pay taxes on the difference between a commercial ticket and the Corp. aircraft expense. Maybe the IRS can look at making the Corp. PAX pay taxes on the actual value of the aircraft.)
This is already the case for non-business travel in the corporate world. If our CFO wants to use the aircraft to go to his condo in Vail, he will recieve a 1099 for the cost of the trip, and must report that use as income. (simplistic example)
This is already the case for non-business travel in the corporate world. If our CFO wants to use the aircraft to go to his condo in Vail, he will recieve a 1099 for the cost of the trip, and must report that use as income. (simplistic example)