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Aircraft Depreciation Benefits and Considerations

Congress has chosen to allow taxpayers to write off the cost of their aircraft on an accelerated basis.  Business aircraft used for private purposes (non-commercial) can be depreciated using 5-year MACRS rates providing they meet certain requirements.  The rapid tax depreciation provides significant after-tax cash flow.  From time to time, as is the case now, Congress allows taxpayers additional accelerated depreciation in the form of special 50% bonus depreciation for new business aircraft.

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Small Piston Comprehensive Service Agreement

For Piston Aircraft with a gross takeoff weight of less than 6,000 lbs and costing less than $500,000 – $3,000 per year

Large Piston Comprehensive Service Agreement

For Piston Aircraft with a gross takeoff weight of more than 6,000 lbs or costing more than $500,000 – $5,000 per year

Small Turboprop Comprehensive Service Agreement

For Turboprop Aircraft with a gross takeoff weight of less than 12,500 lbs, and not subject to “truth in leasing” – $7,500 per year

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Jonathan Levy

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Suzanne Meiners-Levy

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Joseph Quackenbush

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Letisha Bivins

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