File 026216
Email Chain About Plane Management and Depreciation Rules (File 026216)
Email correspondence between Jeffrey E. and Barry J. Cohen discussing aircraft management options, depreciation strategies, and potential plane sales, with references to tax implications under proposed Trump administration rules.
Summary
Jeffrey E. and Barry J. Cohen exchange emails regarding plane management decisions, including considerations between Jet Aviation and EJM services. The discussion focuses on depreciation rules applicable to aircraft, with Cohen explaining constraints on accelerated and bonus depreciation due to foreign travel usage, resulting in straight-line depreciation treatment. References are made to aircraft inspections, renovations, potential sales of planes, and how usage type might affect business structure choices between Jet and EJM entities.
From: Barry J. CoheSent: 10/2/2017 8:23:25 PMTo: jeffrey E. [jeevacation@gmail.com]Subject: RE: Plane managementImportance: HighAh yes.From: jeffrey E. [mailto:jeevacation@gmail.com]Sent: Monday, October 02, 2017 4:23 PMTo: Barry J. CohenSubject: Re: Plane managementnew depreciation rules proposed under trumpOn Mon, Oct 2, 2017 at 4:13 PM, Barry J. Cohen <I> wrote:GV is in inspection and going well. Not sure what renovations you mean?On depreciation, we think we cannot use accelerated due to foreign travel preponderance, and obviously can't usebonus because not new. We think we are stuck with straight-line depreciation which will be passive.Are you saying that Jet vs. EJM could hinge on the type of plane usage? Not sure I follow that.From: jeffrey E. [mailto:jeevacation@gmail.com]Sent: Monday, October 02, 2017 3:42 PMTo: Barry J. Cohen < Melanie Spinella <Subject: Re: Plane managementdont you want to see what the depreciation rules are. ? it depends on what you intend to do with it/ ? where doyou stand with the renovations and the sale of the 5On Mon, Oct 2, 2017 at 2:33 PM, Barry J. Cohen < wrote:Thinking of switching from Jet Aviation to EJM. EJM is more expensive. Do you have a point of view?Sent from my iPhoneplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thisHOUSE OVERSIGHT 026216communication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 026217