I am an Angel Flight Pilot and use my company aircraft for flights. I was telling a client recently about my adventures and he asked a question to which I did not have the answer; perhaps one of you do.
He was very impressed with the program and wanted to sponser a flight by paying for my company aircraft time (rental) during the flight. Is that possible? As a practical matter, little other than my time is deductable to me, it seemed like a good idea. Would he effectively rent the plane from my corp, and I would do the flying? I am assuming that my company would take the rental fee as income,
Would it be tax deductable to his company, since he is renting a plane for an Angel Flight Mission?