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Tag: Aircraft Taxation
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The bill HR 7024 seeks to reinstate 100% Bonus Depreciation for aircraft owners, with widespread industry impact. While passed in the House, it faces uncertainty in the Senate due to political agendas. Both parties seek to gain strategic wins, leaving the bill’s fate uncertain before the April 15th deadline.
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While many aircraft buyers in 2023 will be ‘stuck’ with 80% Bonus Depreciation for Aircraft they acquired this year, many taxpayers are unaware that they may still be eligible for the 100% Bonus Depreciation deduction. If you ordered an aircraft before January 1, 2023 and are taking delivery of the aircraft before January 1, 2024,…
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The Secret is Out – You don’t have to pay sales tax on your Aircraft Purchase in California!
The Secret is Out – You don’t have to pay sales tax on your aircraft purchase in California.
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The year is quickly coming to a close (Good Riddance 2020) and so are the HUGE tax advantages that Congress granted to taxpayers considering an aircraft purchase. While, 100% Bonus Depreciation is not a new concept for educated aircraft buyers, the additional opportunities presented by the CARES Act, may have slipped past even the most…
