| In the hours and days immediately
| |
| | deferral opportunities are greatly
|
| following the tragic attacks on America
| |
| | expanded.
|
| of 9/11, there was much speculation about
| |
| | So how might a business person benefit
|
| the effects on the general aviation
| |
| | from these new changes? First of all, the
|
| industry. While the events of September
| |
| | impact of these depreciation changes
|
| 11, 2001 have had a significant impact on
| |
| | greatly reduce net cash investment for
|
| the economy as a whole, sales of personal
| |
| | the purchase of a new airplane.
|
| aircraft in Michigan have experienced a
| |
| | Specifically, an operator in the 40% tax
|
| surprising boost. Certainly, the
| |
| | bracket who can successfully write off
|
| convenience of personal transportation
| |
| | his aircraft ownership expense may have
|
| has played a major role in this increase
| |
| | no cash investment in the airplane during
|
| as airport lines and security have become
| |
| | the first four years. Additionally, when
|
| more time consuming. The reduction of
| |
| | properly structured, many taxpayers have
|
| flights resulting from the airline
| |
| | an opportunity to convert personal use
|
| cost-cutting have limited flexibility for
| |
| | into business use. The Internal revenue
|
| the business person and affected the
| |
| | code provides an optional method of
|
| productivity of companies relying on
| |
| | taxing an individual for personal use of
|
| commercial transportation. These
| |
| | an aircraft which many times amounts to
|
| factors alone can't explain surge of
| |
| | less than 10% of the actual deductions
|
| people joining the flying community for
| |
| | flowing from the investment. Consult your
|
| more than just pleasure. Rebates, low and
| |
| | tax professional prior to purchasing your
|
| 0% interest rates, training allowances,
| |
| | new airplane or ask your Aircraft Dealer
|
| and yes, even the IRS played a role in
| |
| | for the name of an Aviation Tax
|
| creating an environment that has
| |
| | Specialist to set up your purchasing
|
| introduced more people to the benefits of
| |
| | entity.
|
| aircraft ownership and had an effect
| |
| | And you say you're not a pilot? Local
|
| similar to that seen after the passage of
| |
| | aircraft dealers like Suburban Aviation,
|
| the General Aviation Revitalization Act
| |
| | Inc. in Lambertville, Michigan will
|
| of 1995.
| |
| | actually teach you to fly your new
|
| The IRS is here to help you? Well,
| |
| | airplane and even reimburse your expenses
|
| believe it or not, a new tax law passed
| |
| | when you purchase a new Cessna airplane
|
| earlier this year represents a renewed
| |
| | from them. Most of today's pilots learned
|
| attempt by our nation's leaders to
| |
| | to fly in a Cessna airplane and the
|
| jumpstart the economic recovery. The bill
| |
| | majority of these pilots continue to
|
| applies to new airplanes acquired after
| |
| | experience the freedom and flexibility
|
| September 10, 2001, and before September
| |
| | that flight offers in one of Cessna's
|
| 11, 2004, and provides tax savings from
| |
| | many single engine models. For 75 years,
|
| economic stimulus provisions included in
| |
| | Cessna has been the leader in general
|
| the Internal Revenue Code designed to
| |
| | aviation aircraft providing a safe and
|
| encourage investment in capital assets.
| |
| | reliable alternative to commercial
|
| Visit your local airport and you're sure
| |
| | airlines and the automobile.
|
| to see plenty of forty and fifty year old
| |
| | So if your business can benefit from
|
| aircraft operating for both business and
| |
| | improved efficiency and tax savings, why
|
| pleasure. Even prior to the new tax law,
| |
| | not consider a company airplane? There
|
| Congress recognized that capital
| |
| | are few tax saving opportunities as
|
| investment is an important part of our
| |
| | effective as fully depreciating an
|
| economy, and therefore allowed a five
| |
| | aircraft on a five year accelerated
|
| year depreciation of these assets. To
| |
| | basis, and with today's interest rate
|
| further encourage investments, they do
| |
| | environment, a well-structured
|
| not require the depreciation to be spread
| |
| | transaction often results in little or no
|
| evenly over the five years, but through a
| |
| | after tax cash flow holding costs during
|
| concept know as "double declining
| |
| | the early years of ownership. Of course,
|
| balance," greatly accelerate depreciation
| |
| | arriving at your meeting on time and with
|
| during the first two years of ownership.
| |
| | all your luggage can also be pretty
|
| Now with the additional incentives of 30%
| |
| | convincing!
|
| bonus depreciation on new airplanes, tax
| |
| |
|
