Understanding Aircraft Bonus Depreciation

Bonus depreciation is a tax incentive that allows business owners to immediately write off a large percentage of the purchase price of fixed assets, such as business aircraft, rather than expensing it annually over the course of the asset’s life.

In order to qualify for 100% bonus depreciation on a new business aircraft in the 2023 tax year, you’ll need to make your purchase prior to December 31, 2022.

If you’ve been on the fence about buying a business aircraft and want to make the most of your tax benefits — it’s time to act fast.

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Man wiping the nose of a Piper Aircraft

Why 2022 Is The Best Year to Buy

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The Tax Cuts and Jobs Act (TCJA) of 2017 instituted a 100% bonus depreciation for business aircraft, meaning you could write off the entire cost of your aircraft in the same year it was placed in service. However, the U.S. government planned to phase this percentage down by 20 percent each year, starting in 2023. meaning 2022 is your last chance to take advantage of 100% bonus depreciation before the qualifying percentage drops to 80%, then 60%, and so on.

“2023 bonus depreciation will be reduced to 80%. While there may be a drafting error that allows certain business aircraft to qualify for 100% bonus depreciation in 2023, new aircraft buyers can protect themselves from this uncertainty by signing a purchase agreement for a new aircraft by December 31, 2022 and making a non-refundable deposit of at least $100,000. When the aircraft is delivered in 2023, 100% bonus depreciation will be available for 2023 income tax filings.”

— Daniel Cheung CPA – Principal, Aviation Tax Consultants, LLC

 

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Meet the M-Class

See the difference in avionics, design, comfort and convenience for yourself when you choose a Piper M-Class aircraft.

M600/SLS

Our M600/SLS is the first Garmin Autoland-equipped aircraft to be standard equipped with HALO™ Safety System and Autoland capability.

View the M600/SLS ❯

M500

Ideal for the ambitious aviator, the M500 is handcrafted with quality and safety. The M500 is the most fuel-efficient turbo prop available today.

View the M500 ❯

M350

The only pressurized, six-piston aircraft in its class, the Piper M350 lets you soar above traffic and weather at FL250 in pressurized comfort and style.

View the M350 ❯

Say Goodbye to Stressful Travel

Not based in the United States? No matter the destination, you deserve to fly there with comfort, performance and safety in mind. Say goodbye to spending long hours waiting at airports or experiencing the interruptions and lack of privacy that come with international commercial flights.

Whether traveling for business or leisure, the Piper M-Class takes convenience and luxury to the next level. Our three models are perfect for getting you from point A to point B both safely and stylishly. Find a Piper dealer near you and see the difference in avionics, design, comfort and more for yourself.

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Piper M600 SLS
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Kirby Chambliss

A Sheer Joy to Fly

I use the M600 to support our airshow business, Chambliss Aerobatics. The M600 is used to transport team members and spare parts for our airshow airplane. Its range, payload and versatility make it the perfect plane for my business. The M600’s speed and handling qualities make it a sheer joy to fly, and that makes it the perfect airplane for me.

Kirby Chambliss

RedBull Pilot & Team Chambliss Owner

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Piper M500 aircraft

Mark Van Berkel

Less Hassle, More Freedom

I end up using my airplane (M500) for business and pleasure. I can go to a business meeting in the morning and return in the afternoon to be home with my family. It has the capability, the performance, the all-weather ability of it. I like the feeling of being able to do things on my schedule and my timelines without all the extra hassle that air travel has turned into.

Mark Van Berkel

M500 Owner

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Lance Boxer

A Game-Changer

It’s a game-changer. The M600 is just a different plane. It’s different in the way it flies, it’s different in the way it handles on the ground, it’s different in the way it handles for the pilot. The safety features are just absolutely amazing. The fit and finish is probably the best that Piper’s ever provided. And the service has been beyond what I ever expected.

Lance Boxer

M600 Owner

M-Class Testimonials

The Bottom Line?

It Pays to Choose Piper.

Act now — 100% Bonus Depreciation on new M-Class aircraft is only available through December 2022!