My Acclaim Dodges Another Bullet

[Joe Zuffoletto]

One of the reasons I decided to put my Acclaim up for sale a couple weeks ago is that my wife won't fly with me any more here in the Rockies. Too much turbulence for her taste.

Well, 3 days after listing it for sale my name came up on the waiting list for a hangar in Petaluma, CA (O69). Wasn't expecting that! Petaluma is near my second home in Marin County, CA.

My wife loves flying on the west coast. Much smoother air, much shorter flights to get to interesting places. So, after a few days of deliberation, I decided to take my Acclaim off the market and relocate it to Petaluma.

Pretty darn excited about it!

[Guitarmaster]

That or relocate the wife....

[Joe Zuffoletto]

That's pretty funny, but I'd rather have both!

[carusoam]

They are both keepers!  

I Hope things continue to work out so well, Joe.

Best regards,

-a-

[jackn]

Heading out to Aspen in a few weeks for the winter. I know what you mean about the turbulence. I've hit some of the worst bumps out there. Still, I'm looking forward to it. Hope to spend some time out in CA also. Glad you're keeping it.

[Danb]

Joe how much time do you spend in each place, I'd guess you'd be tooling around Denver in the RV and up and down the least coast in the Acclaim, is there tax issues moving the Acclain to Hollywood?  Good luck if u keep the wife, after almost 50 yrs they kinda grow on ya or not.

[Joe Zuffoletto]

Denver is my primary residence. I spend about 2 months a year in CA, but I'll put more hours on the Acclaim in those 2 months than I would in a year in Colorado. CA has property tax for airplanes and CO doesn't, but that will be more than offset by the lower price for the hangar in CA.

[bonal]

Keeping one of the nicest Mooney's sounds like a good choice.  O69 is one of our fun trips for a great breakfast at the two niner diner perhaps we will meet some time I'd love to get a look at that Acclaim

[wishboneash]

Petaluma is a frequent fly-in destination for me as well (besides Half Moon Bay).  It would be nice to see the top dog in the Mooney fleet!

[DAVIDWH]

A Delaware Corp. has avoided  100% of Purchase Sales tax on my Ovation. 

Not sure how aggressive Calif. would pursue you on prop. Taxes.

Might be worth the effort to check.

[Joe Zuffoletto]

Thanks, guys. Not sure when I'll be able to move the plane, but after I do we'll arrange a fly-in somewhere in Northern CA!

DAVIDWH: Sales tax isn't an issue. CA is very aggressive about the property tax.

[mooniac15u]

Delaware corporations don't remove the legal requirement to pay sales/use tax.  They only help you hide from it. 

[exM20K]

Thanks, guys. Not sure when I'll be able to move the plane, but after I do we'll arrange a fly-in somewhere in Northern CA!
DAVIDWH: Sales tax isn't an issue. CA is very aggressive about the property tax.

I saw yours come and go from controller very quickly! Congrats on your hangar and being able to keep the plane.

I bought a very similar 2009 acclaim within the last six weeks and am thrilled to be back in the mooney fold. Illinois is brutal in their use tax collection and enforcement, and trying to game it is likely to yield treble fines.

There are services that specialize in gaming the cali taxes, and it is worth a few dollars to see about legal avoidance.

-Dan

[thinwing]

4 hours ago, Joe Zuffoletto said:

Thanks, guys. Not sure when I'll be able to move the plane, but after I do we'll arrange a fly-in somewhere in Northern CA!

DAVIDWH: Sales tax isn't an issue. CA is very aggressive about the property tax.

It's the county that is aggressive,...the rule is where the aircraft was based as of Jan 1  is who taxes it...Marin county is what 1% of appraised value?So expect a 4000 tax bill on a 400k Mooney...

[Bennett]

Not only does my home county, San Mateo County, in line with most counties, charge an annual 1% Property Tax, but they, and some other counties charge a Possessionary Interest Tax on rental hangars. Be a bit wary that CA (State) will not try and charge you a "Use Tax", when you register a CA address for your airplane.


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[aviatoreb]

Good for you!!  

[ArtVandelay]

2 hours ago, Bennett said:

Not only does my home county, San Mateo County, in line with most counties, charge an annual 1% Property Tax, but they, and some other counties charge a Possessionary Interest Tax on rental hangars. Be a bit wary that CA (State) will not try and charge you a "Use Tax", when you register a CA address for your airplane.
 

 I was parked at SQL for thanksgiving week, Just got back, nice place to visit but I would not want live there. 

[FlyDave]

Welcome home Joe

[Guest]

On December 2, 2016 at 0:33 PM, thinwing said:

It's the county that is aggressive,...the rule is where the aircraft was based as of Jan 1  is who taxes it...Marin county is what 1% of appraised value?So expect a 4000 tax bill on a 400k Mooney...

That would be a bit painful, here it's a one time tax which in my case is recovered through my business.

Clarence

[Joe Zuffoletto]

exM20K, time to change your handle to exM20TN. Congratulations on your Acclaim purchase! I hope you love it as much as I've loved mine.

To others who have replied: I don't game the tax man. If you can't afford table stakes then get out of the game. Just my opinion. The downsides outweigh the upsides.