TAX INCENTIVES AND FLYING PRIVATE FOR FREE
The cost of buying an airplane may be much lower than you think, opening up the possibility of aircraft ownership to many who not only appreciate the benefits of private aviation, but also to those seeking to maximize tax deductions. New tax laws also enable would-be owners to buy more airplane than they may have originally budgeted.
A tax package signed by Congress in December 2015 establishes sizeable tax benefits for those in the market to buy a plane. These tax incentives fall into two categories, which also domino into further reductions in tax liability.
- Section 179 Expensing Election
- Bonus Depreciation
To learn about these sizeable tax benefits, creative ways to minimize the expenses associated with aircraft ownership, and how you can fly private for free, download this white paper.