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Southern Wings Tax Advantages of Purchasing ... - Wiley Post Airport

Southern Wings Tax Advantages of Purchasing ... - Wiley Post Airport

Southern Wings Tax Advantages of Purchasing ... - Wiley Post

V O L U M E 2 ● I S S U E 3 W I N T E R 2 0 1 1 Spotlight On: Southern Wings SUBMITTED BY: TONY PLANT SOUTHERN WINGS AIRCRAFT SALES Southern Wings Aircraft Sales Ltd. has been in the aircraft business at Wiley Post Airport since 1965. Beth and Randy started the business, then known as Rebel Aviation, in a small house/office, on the east side of Rockwell. The company moved onto the airport in 1966, located in hangar 1B, now known as hangar 1. The business originally operated as a flight school and charter business in addition to selling a few airplanes. It grew to 15 airplanes for rent and charter, five full time mechanics and five full time pilot/flight instructors with a normal student load of 50 to 75 students. The school was an FAA, GI Bill and college accredited school. Aircraft sales increased to 60-75 new and used airplanes per year upon becoming one of the original dealerships for Grumman American. A satellite dealership, named Southern Wings, was opened in The Channel Islands. Many airplanes were flown to Europe and sold there. The name Rebel Aviation was changed to Southern Wings Aircraft Sales Ltd. to match the European branch. In the late 70’s, the flight department was sold so more time could be concentrated on aircraft sales. In 1981 a move was made to hangar 3C. In 2006, the present hangar and showroom located at the corner of Rockwell and Millionaire Drive was constructed. In this issue 1 Spotlight On: Southern Wings 1 2011 Tax Advantages 3 Airport Photo 3 OK Pilots Association Meeting 3 Operations Notes 4 Upcoming Events Tony Plant joined the family business in 1989. He moved into sales and management, and is now the President of the company with Beth and Randy taking some time off. Over the past 45 years, Southern Wings has been proud of their legacy and will continue trying to maintain the standard of excellence that has always been their goal Being located at Wiley Post Airport has been a real asset. The location in the center of the U.S makes it easy for customers to come here from anywhere. Southern Wings has owned, and sold, in excess of 2000 airplanes over the years, and plans to double that number in the future. Southern Wings and the Plants are thankful to have many repeat customers, without whom success would not have been possible. Tax Advantages of Purchasing an Aircraft in 2011 SUBMITTED BY: JEFF SANDUSKY, CIRRUS AIRCRAFT FOR AVIATION TAX CONSULTANTS, LLC With the economy showing signs of recovery and the best ever tax incentive available from the federal government, 2011 can turn out to be a great year for the business aviation community. 100% bonus depreciation is available for the first time for qualifying business aircraft placed in service in 2011. 100% Bonus Depreciation President 0bama signed H.R. 4853, Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, into law in December 2010. This legislation increases bonusdeprecation for new business aircraft to 100% - the full purchase price of a business aircraft can be written off immediately. The law is retroactive for new aircraft purchased after September 8, 2010 and will be in effect until (Continued on page 2)

Lease Application Aviation - Wiley Post Airport