Finance, Taxes, Insurance
U.S. Tax Reform Narrows Business Use of Aircraft
Law expanded bonus depreciation, but also significantly narrowed or eliminated activities that previously qualified as business use.

The new U.S. tax law introduced 100 percent bonus depreciation for purchases of aircraft used for business purposes and extended this kind of benefit to both new and, for the first time, preowned models. But it also significantly narrowed or eliminated activities that previously qualified as business use, GKG Law president Keith Swirsky said yesterday at the NBAA Business Aircraft Finance, Registration, and Legal Conference.