Advocate Consulting Legal Group, PLLC
This entry was posted on Tuesday, February 22nd, 2011 at 2:16 pm and is filed under Audio and Visual Tax Tips. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
Aviation Tax and Aircraft Sales Tax
The aviation professionals at Advocate provide turnkey aircraft tax consulting services designed to maximize income tax savings, minimize sales and use tax costs, control property tax, and avoid federal excise tax, all within the strict mandates of the Federal Aviation Administration Regulations.
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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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