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Denver group buys medical office property on Des Moines' east side

Denver group buys medical office property on Des Moines' east side
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Business Tool or Airplane Hobby?


Like many members of the public, the IRS often views private jets as the latter.
April 2021
Too often, the public perception of business jets is that they are so enjoyable they should be regarded as toys. One jet broker/dealer firm took advantage of this by calling itself a “toy store.” 
The Internal Revenue Service, which has characterized business aircraft as “entertainment facilities,” often seems to share this perception. It is only too happy to find that a jet is not being used in a trade or business or to produce income so that the expenses of owning and operating it won’t be tax-deductible.  ....

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