3 ms·
Instead we allow private jet owners to fully write off the cost of a jet purchase(new or used) in the first year on their taxes. Can't even do that with a norm
by adrr 2y ago
Instead we allow private jet owners to fully write off the cost of a jet purchase(new or used) in the first year on their taxes. Can't even do that with a normal sized car.
- cj 2y agoSource: https://nbaa.org/flight-department-administration/tax-issues/depreciation/bonus-depreciation/ https://nbaa.org/flight-department-administration/tax-issues... "Bonus depreciation" exists for cars too, but is capped around $20k. From quick reading, seems like the bonus depreciation for planes was a tax break to incentivize people to, well, buy more planes.