Federal Income Tax Benefits Of Aircraft Ownership

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A brief synopsis of the income tax benefits of private aircraft purchases, including fractional interests. Where needed for a business purpose, private aircraft offer the obvious benefits of security, convenience and efficiency over commercial air travel. The businesses most likely to be able to purchase and deduct business aircraft include not only the largest corporations, but successful private and smaller businesses that have multiple locations, remote offices, or a need for extensive travel typical of that industry. Depreciating a business aircraft can result in substantial tax savings for the business owners (or the corporation) in the time value of the money not paid in taxes as a result of the large depreciation deductions.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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