How did this thread about the shortage of inventory sink to personal attacks?

Chip's reputation is not the one going down here.

Jg

in this new world of distant online communications people will say things they would not say in person. I make it a rule to not say anything I would not say to a person's face.

Last night I was reminded of “why” we have an inventory shortage. I flew Southwest from BNA to New York, the flight was only delayed a few minutes, until a passenger who either had one too many or took one too many decided to get up and walk around as we were about to push back. The SWA folks handled it with as much grace as possible, finally got her seated in the front row, where she promptly slid onto the floor and stayed until she found “sobriety” in the form of a very large Metro police officer.

It was a relatively quiet flight after that, very little talking… lots of coughing. I didn’t even need my Bose block out the rudeness headphones.

Flight landed at 11:30pm and an hour and a half later I actually had a rental car. The lady at the counter apologized and thanked me again for my kindness, patience and for being President’s Circle or Preferred or whatever honor that particular company has bestowed upon me that means I normally just go straight to my car.

I was very thankful I was able to get a car at all and didn’t have to attempt to get an Uber in Queens at midnight… to take me to Connecticut.

My next stop is Wichita, a horrible airline trip, but I’m fortunate enough to hitch a ride on my client’s newly acquired aircraft on its way back to California. One of my jet pilot friends said “that’s a long flight in a Pilatus”

We’re spoiled.

The moral of the story is that we are so incredibly blessed to do what we do. Private aviation really is awesome! We can all get on here and bicker and nit-pick, but we should just be thankful for the wonderful opportunities we have.

Not to pry, but why would you need a special issuance medical?

Inventory levels are going up!

Lots of airplanes being added to Controller. There’s more new listings in the last week or two then we’ve seen in the last several months.

Unfortunately, not any of the models I'm presently needing!

Chip, what models are you seeing an increase in inventory of viable aircraft? We can’t find what we need still.

It's a little bit of everything... but all WAY overpriced. People are throwing airplanes out there to see what they will bring by the end of the year.

I just had a broker tell me someone offered him a Westwind!

These are, without exception, the craziest days ever in the used (and new) aircraft market.

Yep, people trying to take advantage of folks who "need" to buy before the end of the year for tax purposes. Though i don't see how they're going to get a deal done in 2 weeks....

Yep, people trying to take advantage of folks who "need" to buy before the end of the year for tax purposes. Though i don't see how they're going to get a deal done in 2 weeks....

Cash v. accrual accounting?

I’m not a tax expert, but my understanding is that the asset subject to the bonus depreciation also has to be “placed in service” - which means ready and available for the taxpayer to use for its intended purpose. Normally, that’s the date on which a transaction closes but there are potential wrinkles that people have to be careful of. For example, an aircraft that you close on but is in the shop for its annual and therefore not airworthy at the time might not qualify as “placed in service” because it may not be ready and available for use until it is airworthy.

Anyone cutting things really closely for end-of-year aircraft acquisitions should make sure to run everything by their tax person to be sure that they are getting what they think they are getting in terms of the tax benefit. I’m sure others on here know more about this than I do but I’m guessing that a lot of deals get done at the end of the year without thinking everything through.

Joel is correct, you have to place the aircraft in service and make a BUSINESS trip in it.

You are correct, and I would also add that if you do ask or pay for advice, make sure the person selling you the advice is willing to file the return themselves

Lots of carpet baggers that will only give advice but not stand behind it

Ramps everywhere are more crowded than I have ever seen. No doubt that a lot of folks, who can afford to do so, are leaving the airlines for private and charter. Cessna & Embraer sold out for a while.

But this will likely end. This will crash; only question is when and how loudly. Booms rarely end as squibs, they don't fizzle out. The finale usually much more abrupt than the crescendo.

Only exception is if we are seeing a permanent shift in mode of travel by very wealthy abandoning, or at least shifting some travel away from, commercial airlines.

We will see....