Accelerated Depreciation Back on the GA Radar

In the years following the 9/11 attacks, Congress passed an accelerated depreciation tax incentive plan to boost sales of aircraft. It's back; and the newly passed program joins some $1.1 billion in airport funding as part of the Obama administration's economic stimulus package. The general aviation industry has lost a reported total of approximately 11,000 jobs to the current economic crisis, an estimated 7,000 jobs in Kansas, alone. The accelerated depreciation program allows companies that buy aircraft for business purposes to take larger early year deductions based on accelerated depreciation of the asset.