bonus depreciation | Advocate Consulting Legal Group, PLLC

BONUS DEPRECIATION AND ENHANCED §179 EXPENSING EXTENDED TO 2015 AND BEYOND

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 year has largely broken its recent routine of allowing important tax incentives to expire with the start of each new year, only to retroactively reinstate those provisions as year-end approaches—leaving taxpayers during the interim on tenterhooks, guessing what tax laws they will be subject to.

Structuring Issues for Owner-Flown Aircraft Under the 2010 Tax Relief Act

Getting the most out of the 2010 Tax Relief Act.

PHENOM 300

To Maximize Deductions The Taxpayer Must Place Aircraft in Service in 2013

Current tax law provides for both bonus depreciation and an enhanced expensing election available to new aircraft purchasers. Fifty percent (50%) bonus depreciation is available for all new aircraft, including fractional interest, that are used primarily for business. The enhanced expensing election of $500,000 applies to new or used aircraft placed in service by “qualifying small business” taxpayers. A qualifying small business is one that invests less than $2,000,000 in total equipment purchases during the year.

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PHENOM 100

To Maximize Deductions The Taxpayer Must Place Aircraft in Service in 2013

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