When Michael Thibodeau contacted the California Board of Equalization (BOE) in search of advice, he thought he was taking a prudent action, one that would ascertain whether he could bring a recently acquired aircraft into the Golden State before the 90-day waiting period was up--and still qualify for a use tax exemption. Thibodeau never dreamt that the advice he got would lead to a ruinous tax bill.
"Michael was a typical victim of a relationship that is often very adversarial," explains Tom Alston, President of Aero & Marine Tax Professionals, a Sacramento, CA-based consultancy that specializes in advising purchasers of aircraft and marine vessels on state sales and use tax exemptions. "People like Michael, and even attorneys, CPAs and financial planners, oft View the rest of this article
Wednesday, July 18, 2007
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