I promise, I’ll do everything in my power to never be this boring again. Just because it’s boring, though, doesn’t mean it isn’t important. I – very grudgingly – will admit that tax considerations are often one of the most critical factors in people’s analysis of private aviation solutions. Well, most large purchases in general, but especially private aviation, and particularly if it’s a purchase by a business. To be clear, I don’t begrudge their importance. Just the fact that it’s not fun to write about.
It’s crazy to think about and feels a little crazier to write, but the year is almost over. It’s nearly 2024 and I just got used to writing “2023” on things. And with that change comes another change – bonus depreciation continues its approach to zero next year and drops from the current 80% down to 60% in 2024 (then continues its descent to 40% in 2025, 20% in 2026, and by 2027).
The good news? There’s still time to get in at 80% and our fractional program(s) qualify. We’ve got several options ranging from light to mid-sized jets. The even better news, you ask? Not only could you work with me but, if you’ve recently sold something you already depreciated, you can also use me to avoid recapture. Look at me adding convenience and comfort to your life all while saving you money. Just one of the many, many, many ways Silverhawk adds value.
I feel there should be an obligatory disclaimer here that I am not a CPA, so definitely talk with your CPA/tax advisor before doing, well, anything…….
But in case you don’t want to or they’re not familiar with IRS rules around aircraft, here’s a killer resource on the topic.