Blog posts

  • 1 US Bank Note

    Charitable Flying

    Having been involved in the general aviation industry for over two decades, I have always recognized the positive contribution our industry provides to society.  Whether it is natural disasters, transporting veterans and ordinary folks needing medical treatments, or pets that need rescued or relocated, pilots and aircraft owners, fixed base operators, and numerous other stakeholders in…

    Read More
  • Plane Tax Guy at the US Aircraft Expo

    2024 US Aircraft Expo dates and locations

    ATC has been the exclusive aviation tax sponsor and partner of US Aircraft Expo since its inception.   In 2024, there will be 8 Expos held across the country, from Portland to Manassas to Scottsdale.  In addition to seeing new aircraft on display, you will be able to discuss financing, insurance and tax considerations for your…

    Read More
  • 408CD at Columbus with Air Force

    100% Bonus Depreciation Returns!

    Retroactive for 2023 acquisitions The House of Representatives was hard at work last night.  By a vote of 357-70, it passed the extension of 100% bonus depreciation legislation, retroactive for all 2023 qualifying aircraft acquisitions, in addition to extending 100% bonus depreciation for aircraft purchased through December 31, 2025.  The legislation will now go to the…

    Read More
  • Uncle Sam (pointing finger)

    Time-sharing Agreement

    My response is a resounding no – why subject your passengers to additional tax payments to the US Treasury when alternatives can be implemented.

    Read More
  • KJ Leading Discussion

    80% Bonus Depreciation: What happens to the remaining 20%?

    The Tax Cuts and Jobs Act (TCJA) enabled 100% bonus depreciation for eligible property purchased and placed in service after September 27, 2017 and before January 1, 2023.

    Read More
  • Airplanes on the Ground

    100% Bonus Depreciation Extension Proposed

    House Ways and Means Committee proposes tax reform and tax cut legislations on Friday that include provisions to retroactively extend 100% bonus depreciation for 2023 business aircraft acquisitions.

    Read More
  • 408CD at Columbus with Air Force

    100% Bonus Depreciation in 2022

    Our annual frantic race to closing last minute aircraft deals has begun.  We have been fielding numerous questions and scenarios whether an aircraft qualifies for 100% bonus depreciation in 2022:

    Read More
  • White jet plane flying in the sky above the clouds

    Tax consequences of selling an aircraft that has appreciated

    Capitals gains or ordinary income?

    Read More
  • Red Pushpin on 2023

    100% Bonus Depreciation Available for 2023 New Aircraft Deliveries

    The general rule for bonus depreciation for a 2023 acquisition is 80%. “Certain Aircraft” as defined by Internal Revenue Code §168(k)(2)(C) will qualify for 100% bonus depreciation for aircraft that will be delivered and placed in service in 2023 (§168(k)(6)(B)(i)).

    Read More