Stewart Lapayowker Appears on The Pay & Proxy Podcast

By: Lapayowker Jet Counsel

April 1, 2024

Mr. Lapayowker appeared on a recent episode of The Pay & Proxy Podcast, titled Corporate Aircraft Use – The Latest Trends & IRS Audit Plans.

With the Wall Street Journal highlighting a significant increase in personal use of corporate aircraft in recent years, and the IRS initiating an “aircraft audit” program to scrutinize whether companies have been improperly claiming deductions for airplane expenses used for personal travel, as well as whether individuals have accurately reported income from personal travel benefits, it appears to be an opportune moment to delve into the latest in compliance and disclosure related to the personal use of corporate aircraft.

In this episode, Stewart Lapayowker of Lapayowker Jet Counsel, along with Brad Goldberg, a Partner at Cooley in New York City explore:

  • The surge in demand for corporate aircraft by businesses and executives, especially during and in the aftermath of the pandemic.
  • The tax implications for both corporations and their executives.
  • Insights into the IRS’s audit strategies.
  • How commuting benefits and the rise of remote work add complexity.
  • The growing trend of executives or board members buying their own aircraft.
  • Considerations for related party transactions when a company leases an aircraft from an executive or board member.
  • Strategies for ensuring and enhancing your company’s compliance and documentation practices.