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 price in the year of acquisition pursuant to Section 168(k), provided that the aircraft is placed in service for business use in that year. This purchase incentive, designed to spur economic activity in equipment sales, can serve as a valuable tool to free up capital and encourage business investment and activity.
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. The TCJA provides excellent tax opportunities for businesses of all sizes to invest in general aviation aircraft, but requires careful planning and review to ensure that deductions are preserved. Below you will find a few highlights of the new law, along with discussion points to consider with a trusted advisor.
Turbine helicopter proves itself in extreme conditions.
Robinson’s turbine-powered five-seat R66 helicopter has passed testing required by the FAA and Transport Canada to fly in snow conditions. Flying in falling or blowing snow has been prohibited per the R66 Pilot’s Operating Handbook, but with this recent successful test the restriction has been lifted.
To qualify, the R66 had to perform in some of the worst winter conditions found on Earth. » Read more about: Robinson R66 Passes Snow Testing »
Aerobatic world champions crowned over the weekend.
The FAI World Air Games, essentially the Olympics of aerial sports conducted every four years in different parts of the world, are now in their second week in Dubai where the powered and glider aerobatic champions were crowned over the weekend.
At the top of the podium for powered aerobatics was French pilot Olivier Masurel, flanked by Artur Kielak from Poland, who came in second, » Read more about: Videos: Watch Highlights from FAI World Air Games »
Unmanned models of the TF-X will test hover ability.
Terrafugia is still tweaking the design of its TF-X, an electric, semi-autonomous, vertical takeoff and landing (VTOL) flying car, which is slated to be tested in 2016 and 2017.
This week, the company announced that it will soon begin flight testing with an unmanned, one-tenth scale model of the TF-X in order to gauge its hovering ability and collect flight characteristic data, » Read more about: FAA Grants Terrafugia sUAS Exemption for Flight Testing »