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Business Aircraft and Depreciation

BY BEN BERGER

Please note: This item is from our archives and was published in 2003. It is provided for historical reference. The content may be out of date and links may no longer function.

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When I read the article “ Deductibility of Business Aircraft ” ( JofA , Jul.03, page 57), I was surprised the depreciation issue was not discussed. In light of recent tax law changes, taxpayers may be allowed significant depreciation deductions if the aircraft is used for business purposes. Tax savings from such a significant deduction may be a key factor in determining whether or not it makes sense to purchase a jet.

Ben Berger, CPA
Manager
American Express Tax and Business Services Inc.
Timonium, Maryland