Stephen Hofer, President of the Aerlex Law Group, will be a featured speaker at next month’s National Business Aviation Association (NBAA) Convention & Exhibition in Orlando, Florida, both during the Tax, Regulatory and Risk Management Conference that precedes the convention and as a member of a panel that will address risk management issues during the convention itself.
Mr. Hofer will first join Deborah Bew Liu of Aircraft Acquisitions, Inc. in Durham, North Carolina, and Greg Panzarella, the former director of flight operations for multiple companies, in presenting a program on October 20th – Day 2 of the Tax Conference – entitled “Evaluate Your Planning Through an Enterprise Risk Assessment.” Then, on October 21st, the first day of the main convention, Mr. Hofer will join Ms. Bew Liu, Brint Smith of John F. Throne & Co. and Tim McSwain, chair of NBAA’s Aviation Insurance Committee and former Chief Claims Officer for Allianz Global Corporate & Specialty Insurance, as panelists discussing the topic, “Enterprise Risk Management: Integrating Business Aviation.”
“When an aircraft is first acquired, a thoughtful and forward-looking buyer engages legal, regulatory and tax experts to assess and plan for ownership and operations,” Mr. Hofer said, “but once a flight department is established, is the same degree of due diligence being applied to future planning decisions? Companies that own aircraft should proactively analyze the long-term impact of risk and better understand how the company is addressing the issue on various fronts, including legal and liability protection, record-keeping, insurance, employee assistance, and shareholder relations.”
Mr. Hofer has been practicing law in the aviation field for more than 20 years and has had several clients whose aircraft have been involved in accidents or regulatory incidents during that time. The experience has prompted him to become a vocal advocate for thorough, careful advance planning. “Many companies that own aircraft have a flight department emergency response plan (ERP), but it is important to ask whether the ERP fits into the larger corporate strategy. An actual aircraft incident may bring regulators to the door, essentially auditing everything, including tax and regulatory planning decisions. So it’s vital to engage more than just the flight department, or the management company, in the advance planning.”
The NBAA Tax Conference is a key annual gathering for business aviation professionals. Its educational sessions provide attendees with the practical knowledge to help ensure compliance with the complex web of federal, state and local government taxes and regulations that impact aircraft ownership. Attendees also learn about opportunities for structuring ownership and operation of business aircraft in order to maximize deductions. The conference always includes updates regarding changes in federal and state tax laws and policies and federal aviation regulations.
In addition to Mr. Hofer, Aerlex Senior Transactional Counsel Amanda Applegate will also be attending the event. Clients interested in meeting with any of the Aerlex attorneys in Orlando should contact the firm to make an appointment.
If you are interested in attending the NBAA Tax, Regulatory and Risk Management Conference, click here for more information or to register. If you are interested in the NBAA Annual Convention, click here.