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BILL FRAIZER: Okay.
NICK ROEMER [Romer]: You know, your trips out to,
wherever.
DAVE HAMILTON: Uh-huh.
BILL FRAIZER: Yeah.
NICK ROEMER [Romer]: And you deduct all of your
personal flying on it. When I’d fly my airplanes, I
used to take a lot of ski trips out to Colorado. And
I, and I deduct all of the fuel and all of the expenses
associated with those, and those were just nothing but
going out skiing for the weekend.
DAVE HAMILTON: Sure.
BILL FRAIZER: Sure.
NICK ROEMER [Romer]: So, in terms of the income
tax side of it, you can really put a big hole in your
tax return with an airplane. And as long as you’re
spending other money having fun doing other things.
You go down to Florida deep sea fishing or something,
you take an airplane down there. The IRS has no
knowledge of what the purpose of that trip was.
Particularly in the light of these damning admissions, we do not
believe petitioner’s testimony that he used the aircraft
exclusively for business purposes.
Petitioner argues that his credit card receipts substantiate
business purposes for all the aviation fuel he purchased on his
credit card. The receipts do not substantiate business purposes
directly. Petitioner argues, however, that entries in his flight
logbooks complete the picture. The photocopied pages of flight
logbooks placed into evidence by petitioner contain several
columns of information including, generally, the dates of
flights, the make and model of the aircraft flown, and where the
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