Club Homepage Forums Classified Ads Buy & Sell - Everything But Airplanes To buy or not to buy...that is the question

Jeff, there's yer problem, you have to throw the fat ones back!

This is a little off topic, but I just got my first tax bill for the county and I'm being taxed on for the hanger I RENT besides my plane ?????

I understand the tax bill I got for the airplane but a rental hanger ? I've never herd of taxing renters on rental property.

The County of Santa Clara taxes me yearly on the value of my plane (which THEY say is worth about $17,000), plus they tax me on my tie-down spot at South County Airport in Santa Clara.

Go figure.

You're paying tax on the parcel of land.

By the way, if you think you "own" a house (or a plane, for that matter), just try not paying the property tax on it, and you will find out who really owns it.

That's right I just remember, it's death and TAXES.

Billy:

Having rented and owned in the same general geographic area, I would say that you are money ahead to purchase a 150 or 152 rather than rent, with some provisoes:

First: You gotta fly the bird. If you don't fly much, rent.

Second: You need to start off with a solid airplane. If you get an airplane with a lot of problems, you will spend a lot of money, and selling an airplane, even a solid one, is more difficult than finding a good one to purchase.

Third: (Maybe first) stick with the 150/152. There is no less expensive way to fly.

Fourth: Shop for everything. Carl has negotiated a good deal with a parts supplier. Use it. Look for a good mechanic who LIKES to do owner-assisted annuals. And stay ahead of your maintenance items. Fixing a small problem early is a lot less expensive than fixing a larger problem later.

You can further reduce your out-of-pocket expenses by buying an airplane with a low to mid time engine (that has been flown regularly) and assume the airplane's value will be zero when the engine hits 1800 hours, and not contributing to an overhaul fund. I am not saying I recommend this approach, it is just one way of managing your flying expenses.

I further reduced my costs by having a partner. There are pitfalls, but with only two of us using the plane it is almost always available when I want to fly. My fixed expenses plus contribution to overhaul based on hours rarely exceed $300 per month. That leaves just fuel ...

Reg

Any taxing authority is nothing but "legalized, organized crime".

Sorry Mr. Capone, I didn't mean to insult you or your organization by grouping you in with a bunch of money grabbing, cut throat, insensible, insensitive hoodlums....


Jim

Jim, don't get me started!!!!!!!!!

Me neither! The Boston Tea Party occured because a 10% tax was thought to be too high?

Who was it (Oiver Wendell Holmes?) that said "The power to tax is the power to destroy."

"Two things in life are certain - death and taxes. But at least death doesn't get worse each time Congress meets." Will Rogers.