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King Air Delivery Mar2008
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Congratulations to Martin, taking delivery of his brand new King Air C90 GTi. The weather was overcast in Witchita, but the mood was festive as Martin met with Andy Bauman to pick up his duo-toned 2008 King Air C90 GTi. Martin will be taking his new King Air back to Germany, where he will put it to business use. Martin is a world renowned engineering pioneer within the automotive, aerospace, and industrial design fields. And what better way to combine form and function than to partner with a new King Air C90 GTi. Welcome, Martin to the King Air family.
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New Aircraft For Sale
50% King Air C90 GTi partnership available in San Jose area. For specifics, call Woodland Aviation's Sales
Team - Andy or Bruce:
800 442-1333
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J.Pilot Tip: Healthy Oil
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Shawn Matthies
The oil in your aircraft may be fresh, golden amber, generously replenished - and filled with metals, additives and contaminants. Don't leave engine health to chance; add high tech science to your toolkit with an oil analysis. A standard oil analysis includes a Spectral Exam, Insolubles Test, Viscosity Test, and Flash Point Test. These four tests establish an engine health baseline by measuring oxidation, metals, solids, fuel, and moisture that might be present but not obvious. The sample is taken during your routine oil change; you'll get the results within a few days and stored on the WA server for reference, trends, and long term comparisons. Your engine speaks to you through the oil; an oil analysis reads it loud and clear!
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How Are We Doing?
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"I
just wanted you to know how much I appreciated the good service I
received for my plane yesterday. There is always something unforeseen
it seems and this time it was a failed brake that was not part of the
scheduled work for my plane. Shawn, Steve and Bill were all very
accommodating and rearranged their work to get my plane taken care of
while I waited. The work was efficiently completed and at reasonable
and fair pricing."
Let us know how we're doing; please email comments to:
j.pilot@woodlandaviation.com
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Greetings !
Spring
has arrived - and with it, our first WA Newsletter. Each month, we'll
offer articles, tips, and interviews geared toward saving you money and time, followed by a coupon at the bottom of the newsletter. The coupon will be related to the featured J.Pilot Tip; this month it's about Oil Analysis.
We'd also like this opportunity to introduce our new moniker for e-information sent from Woodland Aviation: J.Pilot. We chose this
name because it represents all pilots - Jane and Joe alike, on all
aircraft. Jay Dot Pilot email is answered by all us J.Pilots at Woodland Aviation, too. Enjoy.
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WA In The News: Cessna Service Station
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 WOODLAND, CA - March 8, 2008
Woodland
Aviation, a leading Service and Sales Center with a long and successful 45-year
plus heritage supporting the aviation industry, announced it has received
approval from Cessna Aircraft Company as a new Cessna Service Station for all
models of Cessna single engine piston aircraft.
Woodland Aviation's previous designation as a Columbia Service Center,
combined with its extensive list of existing factory-authorized services,
provides a smooth transition to new Cessna 350 and Cessna 400 owners. Using its strengths of established assets,
infrastructure and experienced personnel, Woodland
is immediately prepared as a resource for Cessna customers.
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Aspen Avionics Demo Day
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 Mike Prezbindowski
Aspen Avionics and Woodland Aviation hosted a 1-day event March 4th. The event took place at our Davis Flight Support facility at Yolo County Airport (2Q3). Robert Blaha, the sales manager
for Aspen Avionics, arranged to bring the company Piper Turbo Lance equipped with a fully
functioning Aspen EFD1000 PRO PFD for the event. We had a full day of aircraft
arriving and departing; everyone received a personalized demonstration from Robert. We also had a standalone unit set up for evaluation, which was quite popular. Aspen Avionics sponsored the event and
provide a continental breakfast and deli lunch for those attending.
The event was a success. Everyone that attended was able to
get their questions answered and went away with a better understanding of the
product specific to their aircraft. Aspen's comment was that it was the best event of its type to date. Aspen Avionics can integrate your round gauge aircraft into solid state electric displays quickly, easily and affordably. Contact Mike: mikep@woodlandaviation.com or call 800-442-1333.
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Interview: Tax Specialist Victor Anvick
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 J.Pilot sat down with Aviation Tax Information Services Group (ATIS Group) tax specialist Victor Anvick to get clarification on the Economic Stimulus Act of 2008.
J.P: How did the Economic Stimulus Act of 2008 come about?
VA: The Economic Stimulus Act has roots in prior acts, all the way back to 2001. These Acts are legislated when Congress thinks the economy is starting to suffer; the first round happened after 9/11. The current mess triggered by the subprime mortgage situation prompted Congress to repackage the previous Bonus Depreciation, and adding a Special Expensing Election provision. These provisions are wrapped into an omnibus bill titled the Economic Stimulus Act of 2008.
J.P: What are the requirements for a 50% Bonus Depreciation?
VA: The general rules:
- Contract signed for new aircraft in 2008
- Non refundable deposit of $100,000
- Aircraft cost is greater than $200,000
- Place in service by the end of 2009
- Aircraft is Part 91 use
- Meet Basic Business Use requirements
- Meet these Basic General requirements
If all those requirements are met, you can take a 50% Bonus Depreciation. Add the regular depreciation to that, for a total of 60% of the cost of the airplane for the first year.
J.P: Bonus Depreciation applies to all aircraft?
VA: Bonus Depreciation is not available for used aircraft. A demo aircraft qualifies - if it hasn't been registered to an individual. Fractional shares are included, but the investment of that frax must be at least $200,000. There are many other nuances and exceptions buried within the language of the law; those are best discussed in personal consultations with your tax advisor.
J.P: Any pitfalls with Bonus Depreciation?
VA: Not as long as you can justify bona fide business use. The aircraft must be used for more than 50% business purposes every year you own it; if you fall to 50% or less, all the depreciation is immediately recaptured in that year, along with accelerated depreciation. All those fantastic deductions you claimed the first year will be immediately recaptured as ordinary income - as if you sold the airplane. That's the biggest pitfall, and a harsh penalty.
J.P: Will I get audited if I take a Bonus Depreciation?
VA: No, although the Bonus Depreciation is easier to be disallowed by the IRS than regular depreciation; it's subject to the "ordinary, necessary, and reasonableness" standards of the IRS code. For example: you purchase an airplane, and in December of 2008 you take delivery, go on a business trip, and place it into service. You qualify to claim the Bonus Depreciation, but is this "ordinary, necessary, and reasonable" for you to take a 50% Bonus Depreciation when you've only had the airplane for the last 3 days of the taxable year - and on 1 business trip? Watch out for that.
J.P: What could I do to prove these business trips?
VA: Record keeping. Not only is it key in determining what position you'll take on your tax return, but in preserving your defensive position if audited. My suggestion is to become a collector of business cards, and gather them in what I call an Aviation Business Diary. Staple the related business card to the day of the meeting; now you have all the contact info, and most will be able to remember the flight upon looking at the business card.
J.P: Moving on to the Special Expensing Election; a benefit?
VA: Oh, gosh yes. Almost a double bonus! Let's work out a sample with both provisions (Bonus Depreciation and Special Expensing Election), using the maximum $250,000 Special Expensing Election deduction on an $800,000 aircraft:
- $250,000 immediate Special Expensing Election
- $275,000 50% Bonus Depreciation
- $ 55,000 regular depreciation amount (20%)
Those figures total $580,000 deducted for 2008, or 72% of the aircraft cost.
J.P: So what happens in 2009?
VA: Standard depreciation amounts apply. Now you're down to a much lower cost basis; deduct 32% for the second year; you can easily see how much you'll be able to depreciate within those first two years.
J.P: Exceptions for Special Expensing Election?
VA: Yes. Over 50% business use to be eligible (remember: keep good documentation). That, and this is only for aircraft placed into service in 2008. You cannot take advantage if you're placing an aircraft into service in 2009. That's a big difference, especially when some aircraft have waiting lists well into 2010.
J.P: Best tax scenario: purchase and delivery in 2008?
VA: That's exactly right. However, you must meet the taxable income requirements. Your taxable income will be your limitation to your Special Expensing Election provision.
J.P: What's the best advice to continue forward?
VA: There's an immense number of planning opportunities present with the Economic Stimulus Act of 2008. In order to take full advantage of them, you've got to get with your tax advisor and do a tax projection very early on in the aircraft purchase process.
J.P: Closing words?
VA: The Economic Stimulus Act of 2008 is perfect for the serious business aircraft user, but do your homework before jumping in.
Without my airplane, my income would be half of what it is. I need my airplane! A Bonanza is a fantastic business tool used by businessmen. Woodland Aviation has positions available in 2008 for King Air; whereas many other turboprops are on backorder until 2010, and won't be eligible. That's an important consideration.
J.P: It certainly is. We also have Baron and Bonanza available for immediate delivery - and a Sales Team ready to demo.
- King Air: 60% or $1,960,800 (Bonus Depreciation only)
- Baron: 60% or $647,000 (Bonus Depreciation only)
- Bonanza: 77%, or $459,400 (both provisions)
Look for an interview
with Victor Anvick in the April or May 2008 edition of Professional
Pilot Magazine, and visit Vic's site at Aviation Tax Information Services Group for regulations, details, articles, court cases, and how to contact the ATIS Group directly. Thank you, Mr. Anvick for your time and contribution!
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From The Flight Deck
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 Gary Pelfrey, Vice President
It has been and exciting and busy time since our acquisition of
Woodland Aviation in June of 2007. I've had the opportunity to meet
our regular customers and many new with the addition of two new service
centers. We knew prior to the acquisition that there was a solid team at Woodland Aviation and I'm pleased to say our expectations were exceeded. Since June we have been
investing in new tools to assist the shop in efficiencies, along with
more training. Our technicians recently completed Diamond Aircraft Training in Canada, composite repair training with Cirrus, and avionics training for the installation of Garmin G1000 for the Hawker Beechcraft King Air 90 model line. We will continue to invest
in new technology and training for the operation as we expand to ensure
we can handle all aspects of your service needs. In addition to our training, we've received approval as an official Cessna Service Station, authorized as a Diamond Aircraft Service Center, and experienced growth in our turbine and jet
services. To keep up with the demand, we've been hiring in service and avionics. It is a pleasure
to see Woodland Aviation grow and expand; in employees, expanded services, and types of aircraft we take care of. I'm
excited about our newsletter, and look forward to using it as a
communication tool to share with the aviation community. I would like to
extend an invitation to you to visit our facility at Woodland Aviation
and meet our team. While in the area, stop in and see how our new
construction is going for the new facility Davis Flight Support at Yolo County Airport (2Q3) where we are building a World Class FBO and Service Center. I
will be using my column to share with you many items ranging from new
employee announcements, new technology, acquisitions, to news within
the company and industry. Thank you for your time and I look forward to your visit and meeting you.  Gary Pelfrey Vice President
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