The 2017 Tax Cuts and Jobs Act provides a wonderful opportunity for business aircraft purchasers of both new and pre-owned aircraft to take 100% bonus deprecation on the aircraft purchase […]
After years of debate, tax reform has arrived. The late-year 2017 passage and signing of the Tax Cuts and Jobs Act (TCJA) has reshaped the business and individual tax landscape. […]
Second in a series of articles on “How to Survive an IRS Audit of your Aircraft” There are many valid business reasons to separate aircraft ownership from the operating […]
179 Expensing Election of $500,000; phase out starts when equipment purchases exceed $2,000,000. 50% Bonus depreciation for factory new equipment In a welcome display of good governance, Congress this […]
When a financed aircraft is owned in a special-purpose company, which lacks assets other than the aircraft, it is typical and understandable for the financing bank to insist that, in […]
A notable milestone in the cat-and-mouse game of individuals seeking to minimize tax burden and Congress making new laws to end potential shelter activity is the Passive Activity Rule, which […]
Tax Depreciation of General Aviation Aircraft Businesses throughout the country routinely make use of general aviation aircraft to provide travel and communication efficiencies that provide them with an important competitive […]
Deducting Aircraft Expenses? Detailed Tax Calculations Now Mandatory New IRS regulations effective in 2013 and forward require taxpayers claiming deductions for aircraft to undertake detailed calculations to determine what […]
On January 2, 2013, Congress completed passage of a bill addressing, at least in part, the so-called “fiscal cliff” of impending tax changes slated to occur at the end of […]
On August 1, 2012, the Department of Treasury published final regulations addressing the negative tax impact of entertainment use of business aircraft. These new regulations solidify into law a legal […]
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