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You clearly don’t understand the definition of net worth. As multiple posters have tried to explain to you, you are 100% wrong. You can trade an asset for an asset (eg cash for a plane) and your NW doesn’t change. Asset went down and another asset went up. You can also keep your cash and acquire...

You’ll need to be the first to take a finance class. Debit asset, credit liability. assets go up, so do liabilities. anymore brain busters?

Right - in the future your interest expense would impact net worth, but NW is a simple point in time calculation. If you borrow and your returns on the amount you would have paid are higher than interest, your NW goes up, so considering all factors, including opportunity costs, you’re just...

Debt is a very powerful tool. Lots of people don’t understand how debt, interest, and net worth all work together, so they become sanctimonious *******s about not using debt for toys or whatever statement makes them feel better about their own decisions. Hindsight bias. Hell Dave Ramsey made a...

On my private checkride, the DPE had me almost below the treetops on the simulated engine out. He wanted to see how I'd react to having to actually keep the C-150 at exactly Vx to get out of that spot. He told my CFI later that he was impressed I didn’t yank back on the yoke because of the...

Where are you based? One of the guys at my airport south of Dallas just got his T-6 ready about a month ago for this trip.

A guy at my airport did that to a 310. It was part of a whole panel upgrade, but he is very happy with the capabilities of the 3100. I think he was the first to have that specific Garmin navigator paired to the 3100, so it took some work to get it just right. I understand it’s amazing now and...

Back on topic - I have a former federal LE airplane. Man o man. They took good care of this thing and they put some expensive upgrades in it. Who else has an actual TCAS I system (no RAs) in a single engine cessna? Some still have UHF/VHF radios. Cool stuff. If they start selling them off again...

Then I’d take the position that being in the club gets you more exposure and is reasonable and necessary under Section 162. I would sign that return.

But to instruct in a specific club, you need to be a member in that club. This seems similar to industry publications that are deductible. Sure, someone may buy the WSJ for fun, but if I do it because it allows me to keep up to date with news impacting my business, it’s deductible.

I’m going to sit in my garage and pretend I’m at the forums with no A/C and a flimsy folding chair. Also ordering the Spruce practice composites kit and going to set up YouTube vids of people teaching me how to build airplanes. This year’s budget will be spent on tools I guess.

Great deal on these. I already have a set or I’d buy these. They’ve been great for a few years now. Replacement ear pieces are available much cheaper than with Clarity. Good luck with sale.

So what’s the best thing to do in the fall or summer as a replacement? Maybe that should be its own thread.

I think the 120s don’t have flaps, right?

Fair point. I sure hope the FAA sees the refusal to send controllers to Oshkosh as another possible PR disaster. Can you imagine if they refused to send controllers and there was even half the normal traffic? Luckily, DHS guidelines label recreational flying as one of many essential items to...

I know anyone can sue for anything, but companies have insurance to defend baseless lawsuits. If the CDC says avoid attending large events but you attend (instead of the CDC saying don't have them), that's a risk you took for attending. If the CDC says avoid people if you've been infected, and...

Wouldn’t lawyers have to prove that EAA or a vendor is the direct cause of a disease? How many people got sued after a cold or flu outbreak at a large event? How many employers get sued because their employee catches the flu at work? Wouldn’t the employee have to be able to prove they didn’t get...

My employer just cancelled all in person events (happy hours, client events, trainings, etc) through September 1. I’m not sure if that was due to the virus or just to cut costs. Very depressing though if Oshkosh doesn’t happen in July.

Nothing has been changed on the airplane, but I will try removing audio panels one at a time. The reason it has two to begin with is a for the FBI - when they used the plane, they had a guy in the right seat who could control all his own coms, including whatever the guy in the back seat plugged...

College Station has a shuttle that uses an otherwise closed road on game day to get you back to the airport in no time after the game is over. They used to even have free booze when you got there. If you’ve come all that way, you might as well stick around for a night. UNT was one of the ones I...