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You are here: Home / Aircraft Income Tax / Aircraft Income Tax Tips / Aircraft Depreciation Benefits and Considerations

Written by jonl

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.

Filed Under: Aircraft Income Tax Tips

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Advocate Consulting Legal Group, PLLC. 3555 Kraft Rd. Suite 240 Naples, FL 34105 and 1300 N. Westshore Blvd. Suite 220 Tampa, FL 33607. Suzanne Meiners-Levy, Esq. (239) 213-0066. Tax Disclosure. We inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under federal tax laws, specifically including the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Privacy Policy. Terms of Use.