Username Protected wrote:
Piling on - yeah 80% of cruise TAS for a total miles/total hours average.
And start figuring out how you wanna do money. Specifically, how will expenses be allocated in a year where one partner flies 50 hours, one 100 and one 200. Apart from fuel costs, are you going to bill based on hours spent in the plane or days that you had the plane available to use. Makes a big difference and it will probably determine Who the first partner to leave the plane will be.
Part of the good part about this partnership is it's three companies but all have similar partners.
Person A is a partner in all 3.
Person B is the one who is the accountant.
Person C (me the pilot and partner D) make up the third firm.
I was looking at setting up an entity as follows and am very much open to suggestions.
1. Each company would pay for 1/3 of the aircraft
2. Each company would pay for certain amount of monthly expenses
3. Each company would pay a certain amount for each hour flown
4. Each company would pay for their own fuel (we'd have to figure out a system)
Please give suggestions and real life scenarios.
Thanks,
-Seth