Purchasing an airplane in 2012 can represent significant tax savings if the airplane can be used for business purposes.  Business purposes can include training, recurrent training, visiting clients, surveying land and more.  In order to qualify for depreciation, the airplane must be used more than 50% for business purposes.  If you are not sure if your airplane usage qualifies, or if you do not have a valid business purpose for your airplane, contact me and let's review your case.  In many cases, I can show you how to qualify for airplane for business use.

Airplanes can be depreciated on a 5 year accelerated depreciation schedule with the majority of the depreciation occurring within the first two years.  Section 179 deductions and Bonus Depreciation may also be applicable.  If you are in a higher income tax bracket, you will be surprised how much you can deduct.  In fact, in many cases purchasing an airplane can result in a positive cash flow during the first or longer.  Please contact a knowledgable airplane tax company to determine your eligibility or  Contact me to discuss your situation.

Ryan