Setting up an LLC for new plane?

[74657]

Thoughts on setting up an LLC for my new plane?  I currently own my AA-5B as an individual.  I will be using the plane for business use as well as personal use.  I have ownership interest in 2 businesses, both as an individual.  My thoughts are setting up "ABC LLC" and running "business" percentage of expenses through the LLC and claim my personal use at the end of each tax year.  Financing of the aircraft is currently setup to be done using my personal credit.  My Tiger is fully paid for.

Thoughts?

[Parker_Woodruff]

Talk you your CPA.

He/she knows your tax situation better than anyone here.  I have my Mooney in an LLC as it's very much been a business use aircraft.  Though when I buy my next plane, it will probably be registered to me individually.

[74657]

I just did.  I am going to set it up.  Looks like I can roll "business use" maintenance costs, fuel, storage, insurance etc. etc. into LLC expenses as well as claim depreciation on it. 

[jmills]

Anticipating a business use for the plane sometime next year, I acquired the plane in an LLC. I also did so with the financing (note is in LLC name, with my personal gurantee). Reasons you mentioned were the basis for doing so once I start using it in my business.