HiFlyer

Thanks for the responses guys. KSMooniac is right in that this would be the perfect step up airplane for a Mooney owner. Expecting that the average GA pilot will fly approximately 50 hours per year, with the way HK has been running for me you could realistically expect to get at least 2-3 more years out of the engine before you have to complete an overhaul...and you get the benefit of being able to chose your own shop to do it and have complete control over the process. You would then have an incredibly well equipped Bravo with TKS and a brand new engine, which would be worth more than you put into it and you know it would be done correctly. I'm looking to get a fair price for the airplane and see someone get a good deal on a great Bravo...I will consider all offers. Thanks!

It runs great and has had no issues at all. I have flown her about 100 hrs in the last year and I'm very impressed with this Bravo...sad to see her go. vRef currently values the airplane as is, at $172k and with a newly overhauled engine at $219k. Motivated seller so please make an offer if you are interested. Thanks!

Price reduced!!! http://www.controlle...AVO/1301817.htm

Sad to be selling her, but someone will be getting a beautiful Bravo when she goes! Please check out the link below for all the details. http://www.controller.com/listingsdetail/aircraft-for-sale/MOONEY-M20M-BRAVO/1994-MOONEY-M20M-BRAVO/1301817.htm

Hello all! Quick question for you all. After I finished washing my 1994 M20M this evening I went to crank the engine to move the airplane back to the hangar, and when I turned on the master switch there was a loud, high pitch tone coming from the main cabin speaker that I couldn't get rid of. I tried moving the stall indicator, pulling circuit breakers associated with anything that made a sound in the cockpit and reset just about every switch I could find in the cockpit with no result! I was wondering if anyone has had something similar happen to them or any ideas on why it's happening and how to fix it? I am digging through the POH to find the source of every tone in the cockpit, but I'm at a loss for this one...any ideas? Thanks!

In reading the responses, I suppose I phrased the question incorrectly. I had fully expected the LLC to "charge" an hourly rate for the use of the aircraft, I was just wondering about the tax implications of doing so. I imagine that is the operating expenses are XXX and the LLC charges XXX, then the net profit from the "income" generated by the LLC is zero...probably over simplified, but is this off base? I'm surprised at those who say that the best protection is a simply a good insurance policy...it just goes against what seems to be a very popular way of "protecting" one's other assets. What about those of you who have businesses? Do you really trust that the assets of your company will be protected/covered by just the insurance companies if you hit the proverbial "bus full of nuns" on the runway and you are sued?

What about storing your own oxygen? I know medical oxygen requires a prescription, but if I can go to the local dive shop and get a fill, what are the rules pertaining to getting my own tank and filling my own plane's system?

For those of you that own an aircraft in an LLC strictly for the legal protection of it, how do you handle taxes at the end of the year? I understand that you have to file a return, however if the aircraft has not been used for commercial purposes and generated zero revenue, are you still taxed in any way or is filing simply a formality?

Jerry, This is exactly what was suggested to us. Via the Interstate Commerce Act, if you can prove that greater than 50% of your flights are used in interstate commerce (note: this doesn't mean commercial flying, just the intended purpose of the trip), if the first use of the aircraft is out of state (delivered/ bill of sale signed out of state) and it can meet the 6 month test, you can be granted an exemption from sales tax in Cali. This is especially useful if you have business often held out of state or do a lot of investing in property outside of your home state.

I am curious as to how those on this site have structured the ownership of their aircraft. I realize that every state is different in it's laws and there are so many options out there...but what worked best for you and why did you decide to go that route? I am currently getting ready to make an aircraft purchase and have been in contact with an aviation tax attorney here in California. He has suggested a few methods of ownership which would legally reduce my tax liability, especially since here in California they also charge an annual property tax which is equivalent to 1% of the fair market value of the aircraft in most counties. I'm sure many of us on this site own our aircraft under the protection of an LLC or Corporation formed in a state like Nevada or Delaware, but aside from the legal protection they offer, what other advantages/disadvantages have you discovered with them? How have the annual taxes worked out for you? If you had to do it again, what would you do?

I saw that...unfortunately his isn't equipped with TKS. I haven't heard back from CAS yet on the TKS installation quote but I'm guessing it would put the total cost close to $200k...not out of the question however. Also, in 3000 hrs of flying I have never had the privelage of flying a Mooney...before I bite the bullet and buy one, is there anyone in the greater Sacramento/San Fran area who might be willing to go flying one weekend for gas and lunch?

Thanks guys...looks like a TKS 252 or Bravo is the way to go for my needs. Now, who's selling?!?

I've read that report several times over the last few weeks and it has some great information! I've been using the AOPA Cost calculator to figure operating expenses and that is about exactly what I have been coming up with for hourly expenses, which seems reasonable to me.

By the way, I appreciate the insight fellas...I've been flying jets for the Air Force for a long time now and am learning as much as I can before stepping into the world of high performance singles when the maintenance and operational cost isn't being covered by Uncle Sam! This site has been a great resource!

Are guys with turbo mooneys also looking at cylinder replacement every 400 hrs or so or do they at least make it to a top overhaul? Of course it depends on how you operate the engine I'm sure, but what would be a good estimate? I know there is also a lot of discussion on continental vs lycoming and their individual nuances...