Owe Millions in Taxes? Buy a Plane.

Imagine grabbing a drink with your college friends and one of them says, “let’s go to Vegas” — or Mammoth — or San Diego — or anywhere within 1700 miles — and being able to fly within an hour in your own private plane.

In addition to being the most luxurious and flexible form of travel, owning a private plane can provide major tax benefits. Here are some of the potential benefits and considerations, especially if your tax liability is over a million dollars…