How Could They NOT Be Expensed? | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.23.25

Airborne-NextGen-06.24.25

AirborneUnlimited-06.25.25

Airborne-AffordableFlyers-06.26.25

AirborneUnlimited-06.27.25

Wed, Sep 03, 2003

How Could They NOT Be Expensed?

FedEx Wins Unbelievable Case: Federal Court Rules Jet Engine Maintenance Costs Are Deductible

FedEx Corp. received a favorable ruling from the U.S. District Court in Memphis over the tax treatment of jet engine maintenance costs. The court held that these costs were 'ordinary and necessary business expenses' and properly deductible by FedEx.

IRS tried unlikely grab:

For the tax years 1993 and 1994, the IRS had proposed adjustments characterizing routine jet engine maintenance costs as capital expenditures that had to be recovered over a seven year period, rather than as expenses that are deducted immediately, as had been the company's practice. In August 2000, FedEx paid $70 million to the IRS in tax and interest in order to file suit for a complete refund of the amounts paid, plus interest.

FedEx's financial results for the first quarter will be announced on September 17, 2003.

FMI: www.fedex.com

Advertisement

More News

TikToker Arrested After Landing His C182 in Antarctica

19-Year-Old Pilot Was Attempting to Fly Solo to All Seven Continents On his journey to become the first pilot to land solo on all seven continents, 19-year-old Ethan Guo has hit a >[...]

Classic Aero-TV: Versatile AND Practical - The All-Seeing Aeroprakt A-22 LSA

From 2017 (YouTube Edition): A Quality LSA For Well Under $100k… Aeroprakt unveiled its new LSA at the Deland Sport Aviation Showcase in November. Dennis Long, U.S. Importer>[...]

ANN's Daily Aero-Term (06.27.25): Hazardous Weather Information

Hazardous Weather Information Summary of significant meteorological information (SIGMET/WS), convective significant meteorological information (convective SIGMET/WST), urgent pilot>[...]

ANN's Daily Aero-Linx (06.27.25)

Aero Linx: Historic Aircraft Association (HAA) The Historic Aircraft Association (HAA) was founded in 1979 with the aim of furthering the safe flying of historic aircraft in the UK>[...]

Aero-News: Quote of the Day (06.27.25)

"We would like to remember Liam not just for the way he left this world, but for how he lived in it... Liam was fearless, not necessarily because he wasn't afraid but because he re>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 06.30.25: US v ADS-B Misuse, Nat’l STOL Fire, Volocopter Resumes

Airborne 06.27.25: ANN's HUGE OSH Coverage!, NCAR Racing Seminars, JFK Lawsuit

Airborne Affordable Flyers 06.26.25: PA18 Upgrades, ‘Delta Force’, Rhinebeck

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC