*Calculate statute miles, nautical miles and kilometers between airports. Statute miles are the primary measurement used for calculating SIFL amounts under Treasury Regulation Section 1.61-21(g). SIFL amounts can be calculated using Vardero's SIFL Calculator. There are two Trigonometric methods that can be used to calculate
statute miles: Vincenty's formula and Haversine formula. The IRS has not provided guidance on this other than stating that statute miles are to be used for purposes of computing any SIFL income imputation amounts. The haversine formula determines the great-circle distance between two points on a sphere given their longitudes and latitudes. Vincenty's formula calculates geodesic distances between a pair of latitude and longitude points on the earth’s surface, using an accurate ellipsoidal model of the earth.
Both formula's produce the straight line distance between two GPS points or the "as the crow flies" distance (ignoring mountains). Vincenty's formula is believed to be slightly more accurate.
Signup for a free trial of the Vardero Aircraft Tax Calculator to track personal, entertainment, commuting and business flight hours and miles to compute Internal Revenue Code Section 280F Qualified Business Use percentages, Standard industry fare level (SIFL) imputed income amounts for personal use flights, IRC Section 274 entertainment and commuting expense disallowance amounts and SEC Incremental Costs for reporting for named executive officers.
Track Internal Revenue Code Section 280F Qualified Business Use percentage thresholds which must be met or exceeded in the year of purchase to obtain bonus depreciation and to use accelerated depreciation methods, and must be met or exceeded in subsequent years to avoid depreciation recapture.
Multi-leg entertainment flight tracking and calculation option included. Repositioning flights tracked.
Complete flight package for tax and SEC Aircraft tracking and compliance reporting. Download logs for audit purposes and records.
* Vardero.com does not provide tax, legal or accounting advice. These materials have been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
