Jim Waldon speaks at Seattle University School of Law
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On November 27, 2018 Jim Waldon spoke to law students
attending an aviation law class taught by Robert Hedrick. Jim spoke on
the Process of Creating a Commuter Airline.
At the end of 2017, Congress passed and President Donald Trump signed what is now Public law no. 115-97, the 2017 “Tax Cuts and Jobs Act” ("the Act"). The Act has several immediate and long-term effects on general aviation tax issues that aircraft owners should note. Elimination of Section 1031 Exchanges for Personal Property First, the Act eliminates like-kind exchanges under Section 1031 of the Internal Revenue Code for all personal property, including aircraft, beginning in 2018. For those taxpayers who properly initiated 1031 exchanges prior to December 31, 2017 by acquiring a replacement aircraft or selling a relinquished aircraft, the benefits of a 1031 exchange will remain available subject to the previously applicable rules to allow the taxpayers to consummate the full tax-deferred exchange. All other aircraft owners will be henceforth subject to recapture for any taxable gain. Thus, owners with fully tax-depreciated aircraft in particular should pl
James (Jim) Waldon will be speaking at the 22 nd Annual Great Alaskan Aviation Gathering, on May 5 th , hosted by the Alaska Airmen Association. His presentation will cover What Can Go Wrong If You Don’t Have A Good Aircraft Purchase Agreement . Presentation time will be 3 pm in the Speakers Tent at Ted Stevens Intl Airport, FedEx Hangar. More information regarding the event is located at https://www.greatalaskaaviationgathering.org/ and will be streaming live on the Alaska Airmen Facebook page. Jim has extensive legal and management experience within the aviation industry, including Lead Counsel at Alaska Airlines and Senior Attorney at Trans World Airlines. He holds a commercial pilot license with over 2,500 hours and was the Chief Operating Officer and General Counsel of a regional Hawaiian airline, as well as Managing Partner of Waldon Law Group, a law practice with an aviation focus. His practice, Paramount Law Group, focuses on aircraft transactions and finance and
Many of us know, logging hours you did not fly is considered falsification of records by the FAA and is penalized with a revocation of all held certificates for up to one year. What isn’t as widely known is, such a pilot may be permanently banned from ever holding an Airline Transport Pilot Certificate. For aspiring commercial pilots, the time between receiving a commercial pilot’s certificate (a minimum of 250 hours) and the time when a pilot builds sufficient flight hours to be hired as a pilot making much more than minimum wage, (about 1000 - 2000 hours) can be a difficult time. It generally takes such pilots years to build this time. During this time, these pilots are generally building time as a flight instructor or flying introductory or scenic flights – generally low paying jobs. The desire to build time quickly is understandable. It is a common story - a young, aspiring, impatient pilot at some point gets the urge to add a few hours to their log book. It might b
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