Companies that own and operate aircraft are generally entitled
to deductions for ordinary and necessary business expenses, among
other things, in connection with business use of the aircraft. A
lesser known type of deduction pertains to deductions for expenses
in operating the company aircraft for the benefit of employees for
nonbusiness flights.
A Gulfstream, departing from Santa Barbara CA's airport, Monday,
was forced to return for maintenance after a midair collision with
some form of flying wild-life. Normally this does not make much
news, but since the bizjet was carrying Oprah Winfrey and her
boyfriend, it's gotten escalated a bit in media reports.
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