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Aviation
Articles
Tax-Free
Exchanges of Aircraft Under Section 1031
About the Author
Under Section 1031
© 1999 KEITH G. SWIRSKY
Keith
G. Swirsky is a partner with Galland, Kharasch, Greenberg,
Fellman & Swirsky, P.C., one of the nation's leading
aviation law firms. The law firm, and its affiliated
consulting firm, employ over thirty aviation lawyers
and consultants, and provide a diverse range of services
in all sectors of worldwide aviation, representing the
needs of businesses, airlines, airports and municipalities.
As part of our global transportation practice, the Business
Aviation Group provides legal and consulting services
to the business aviation industry.
Mr. Swirsky represents the aviation industry from many
perspectives -- the aircraft owner and corporate flight
department, the fractional program manager, the aircraft
charter and management company, the equipment manufacturer
and distributor, the lender, the airline and the airport.
Mr. Swirsky and the members of the Business Aviation
Group provide legal and consulting services to the business
aviation industry, including:
| • |
development
of fractional ownership programs |
| . |
purchase
and sale negotiations and documentation |
| . |
development
of aircraft ownership and operating structures to
meet regulatory, tax and liability protection planning
concerns |
| . |
tax-free
exchanges of aircraft |
| . |
taxation
of aircraft use and ownership, including depreciation
deductions and federal excise taxes |
| . |
state
sales and use taxes |
| . |
personal
use of corporate aircraft |
| . |
IRS,
FAA and DOT compliance, enforcement actions and
regulatory filings |
| . |
acquisition
financing and leasing |
| . |
creation
of business plans and financial models |
Mr.
Swirsky presently serves on the Tax Committee for the
National Business Aircraft Association and is a regular
speaker at the NBAA's Tax Conferences as well as other
industry trade association and continuing education
conferences. Mr. Swirsky received his J.D. and L.L.M.
in Taxation from Georgetown University Law Center and
his B.S. in Business and Accounting from Cornell University.
In connection with conducting and documenting aircraft
tax-free exchanges, the law firm will serve as the Qualified
Intermediary at no additional fee and has developed
planning techniques for acquisition of the replacement
aircraft prior to sale of the relinquished aircraft.
Galland, Kharasch, Greenberg, Fellman & Swirsky is based
in Washington, D.C.. For additional information, please
contact Keith G. Swirsky at (202) 342-5251, e-mail to
kswirsky@gkglaw.com
or visit our website at www.gkglaw.com.
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