Business Aircraft and Depreciation

BY BEN BERGER

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

SPONSORED REPORT

Implementing a global statutory reporting maturity model

Assess your organization's capabilities and progress toward an ideal state of global statutory reporting. Sponsored by Workiva.

100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.