Bonus Depreciation is available through the American Recovery and Reinvestment Act of 2009. All new aircraft purchases placed in service after December 31, 2007 and before January 1, 2010 will now qualify for bonus depreciation.
Qualified Property
In order to qualify for bonus depreciation the property must be new. It extends not only to new aircraft purchases but also to new improvements to used aircraft. For example, purchases of new avionics units, engines, winglets and the like would qualify for bonus depreciation.
Key Points to Remember:
- The new aircraft must be used for business purposes at least 50% of the time it is flown.
- Incentives are retroactive to January 1, 2009.
- Tax savings are available on nearly all Piper’s current family of products.
For More Information
For complete details and guidance regarding bonus depreciation, we suggest that you contact Advocate Consulting.
To view a sample calculation of the bonus depreciation that you may be eligible for given the type of aircraft that you are considering purchasing please visit the Depreciation Calculator.