Bonus Depreciation Extended

President Obama last week signed the Small Business Jobs Act of 2010 into law, extending two key aircraft-friendly tax provisions for another year.  This legislation extends the “bonus depreciation” provisions that have been in place for some time that allow the...

Substantiating Aircraft Business Use

On audit an examiner will consider the degree to which you have documented your business use. This will include not only your flight logs but receipts, meeting records, and other evidence of the business purpose for the plane. Duration also plays a part, especially...