You may not believe it—unless you’ve been shopping for a used Cessna 182 or its like over the last few months—but the general aviation used aircraft market has stayed relatively strong throughout the first half of 2020, according to industry representatives from insurance brokers to aircraft brokers. Now may be a really good time for you to consider buying an airplane—avoiding airline travel just being one benefit.
Aircraft Market Benefits from Bonus Depreciation
Key Takeaways:
- The general aviation used aircraft market remained surprisingly strong in early 2020, presenting an opportune time for purchases due to tax incentives.
- Accelerated bonus depreciation, now applicable to both new and used aircraft, allows owners to deduct 100% of an aircraft's value in the first year.
- The CARES Act further benefits larger businesses by enabling them to carry back losses from full depreciation to previous years for tax refunds.
- Owners must strictly maintain a minimum of 50% business use for their aircraft to avoid the recapture of accelerated depreciation benefits.
Key takeaways sponsored by Aviator Pro | Start Your Training ->
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