On Demand
Basic

How to Purchase a Business Jet and Maximize Bonus Depreciation

1h 1m

Created on August 19, 2019

Intermediate

$59

Overview

Join aviation attorney David Shannon for a discussion of How to Purchase a Business Jet and Maximize Bonus Depreciation. The purchase of a business aircraft is complex. The rules for the FAA (which is tasked with safety), IRS (tasked with raising revenues), State Sales and Use Taxes (tasked with raising revenues), and the SEC (tasked with shareholder protection) conflict because each agency has a different mission. This program will address the rules and regulations and provide practical solutions for new aircraft owners and their advisors. 

Additionally, this program will cover the rules regarding the ability of a taxpayer to maximize bonus depreciation deductions and restrictions on the availability of such deductions. The 2017 Tax Cuts and Jobs Act provides for 100 percent bonus depreciation, allowing taxpayers immediate deduction of the cost of factory-new and pre-owned aircraft acquired and placed in service after Sept. 27, 2017 and before Jan. 1, 2027 (Jan. 1, 2028 for longer production period property and certain aircraft).


Learning Objectives:

  1. Examine the rules and regulations that apply with the purchase of a business aircraft
  2. Provide practical solutions for new aircraft owners and their advisors
  3. Gain a detailed overview of the requirements to qualify for the bonus depreciation deduction

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