When selling a business aircraft that has been depreciated for income tax purposes, a taxable gain will result. The "recapture" of...
by Daniel Cheung, CPA
The general rule for bonus depreciation for a 2023 acquisition is 80%. “Certain Aircraft” as defined by Internal Revenue Code §168...
ATC has been the exclusive tax sponsor and partner of US AIrcraft Expo since its inception. In 2022, there will be 9 expos held ac...
by Daniel Cheung CPA
December 16, 2021
by Daniel Cheung, CPA and KJ McCarter, CPA
October 15, 2021 The business aviation industry is in an unprecedented period where demand for new and pre-owned aircraft is in...
May 21, 2021
March 10, 2021 A quick review of the American Rescue Plan Act of 2021 by Congress reveals no specific tax law changes that will apply to...
February 6, 2021
Daniel participated in a panel discussion today at CJI Americas 2020. The panel discusses how to put a team together to help create a gre...
October 2020 - Placing an aircraft into a charter program is an excellent option to offset operating costs. With proper tax planning, a late year a...
October 4, 2020 Modified accelerated cost recovery system (MACRS) is the tax depreciation method that allows taxpayer to depreciate...
July 14, 2020 You seldom hear that any California tax policy is among the best in the country. Often you might expect it to be...
Updated - June 11, 2021 If you have purchased a business aircraft or are contemplating an acquisition in 2021, discuss with your tax...
June 20, 2020 Partly driven by public health reasons, many business owners are considering purchasing their first business aircraft in re...
June 18, 2020 The following question has been brought up recently: Can you finance your aircraft acquisition and still be able to take advan...
Here is an article that will be published by
May 11, 2020 "Fly away exemption" is a phrase frequently used by aircraft sales professionals, aircraft owners and ta...
by Daniel Cheung
April 19, 2020 If you have taken advantage of accelerataed tax depreciation in the past, it is critical that you continue to monitor your...
Ap...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress and signed into law by the President. There is...
Texas does not impose a state income tax. However, it assesses a sales and use tax and an annual local personal property tax on...
I often hear the comments that you can't write off an aircraft because you can always fly Southwest for $99 one way. The tax code, ho...
For many years, taxpayers could "pay" for their personal entertainment use of the aircraft, or utilize SIFL in...
When you are borrowing money to finance the purchase of an aircraft, tax basis may be an important topic as it r...
Many states assess sales and use tax, registration fee, excise tax, property tax, etc. It's not uncommon to ow...
