This Holland & Knight alert explains the phasedown of bonus depreciation for aircraft beginning in 2023. Through 2022, bonus depreciation has been allowed for 100 percent of the cost of qualifying property (which generally...more
The Internal Revenue Service (IRS) held a hearing on Nov. 28, 2018, regarding its proposed bonus depreciation regulations. Holland & Knight Partner John Hoover testified on behalf of the National Business Aviation Association...more
The Internal Revenue Service (IRS) has released a Notice regarding the tax treatment of meals, and the National Business Aviation Association (NBAA) has submitted comments to the IRS regarding the proposed regulations on...more