KJ McCarter is a certified public accountant specializing in aviation tax consulting, bringing a wealth of expertise in tax analysis, business development, and client management to the table. A distinguished graduate of Indiana University's Kelley School of Business, KJ began his career at a big four public accounting firm before joining Aviation Tax Consultants in 2021, a firm founded by his father. McCarter's main focus is on aiding business owners in maximizing income tax benefits from aircraft ownership, emphasizing the importance of early and proactive tax planning, particularly for sales and use tax. Offering complimentary consultations, KJ is dedicated to helping clients navigate the complexities of aviation tax law, ensuring compliance while optimizing financial outcomes.

Here’s what to expect this episode:  

• Tax planning for aircraft purchases requires a unique coaching process due to unfamiliarity compared to traditional tax matters.

• Strategies to minimize or eliminate sales tax on aircraft purchases are crucial, emphasizing planning around sales tax liabilities and use tax liabilities.

• Early tax planning discussions are essential for potential aircraft owners to maximize tax benefits and ensure compliance with IRS rules.

• Discussing tax implications early on with tax advisors can help potential aircraft purchasers mitigate taxes and plan for compliance.

• Constantly evolving federal income tax and state sales and use tax laws regarding aircraft ownership require proactive planning and awareness.

• Aviation Tax Consulting specializes in maximizing financial benefits of aircraft ownership, helping clients with sales and use tax planning, income tax planning, and FAA compliance.

Connect with KJ McCarter:

https://www.linkedin.com/in/kjmccarter/

Connect with David T. Yu:

https://www.dtywealthplanningsolutions.com/

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