Corporate Jets, Taxes & Reporting
Discover how to simplify end-of-year tax filings for your corporate jet with the Innfinite online booking tool.
After speaking with the corporate travel manager of a major clothing company that operates two private jets, we began to see the need for accurate records of the company’s private aircraft usage. The company’s CFO explained that ambiguous tax law and applicable aircraft tax deductions once landed him in tax court. The company needed a better way to record and store travel expenses and electronic communications related to business trips taken on the company jets.
Working with one of our TMC partners, we created over 50 reports that can be drawn from a securely encrypted database that stores all expense data and electronic communication related to use of their private aircraft fleet. The company can now report on fuel, certification, maintenance and storage costs. Reports can also be drawn up that detail the purpose of each trip, the whereabouts of company executives and flight crew for trips taken on the company aircraft, as well as the associated commercial travel and accommodation bookings required for executives and crew on these trips.
We work with you to create reports tailored to your aviation tax lawyer’s specifications, so you can get the most out of applicable aircraft tax deductions on your private jet expenses.
Innfinite gives you the ability to record and store all expense data and electronic communication related to usage of corporate jets within an encrypted database, just in case.
Commercial + Executive Travel
Gain a more comprehensive view of your corporate travel program. With Innfinite, you can book and manage commercial travel and travel on your corporate jet fleet all in one system.
I’m confident we’ve developed something that will reshape the way companies are doing corporate travel management. For many companies, business travel for their top executives might well consist of commercial and private flights. I think being able to book, record and manage the details of these private flights in one online booking tool will be hugely advantageous for tax purposes. By offering a suite of reports that companies can pass along to their tax lawyers, end-of-year filing should get a whole lot easier.Jon C.