Finance, Taxes, Insurance
Industry Hopeful of Full Bonus Depreciation Return
Congress expected to turn to tax bill early next year
Ben Shirazi, president of aircraft dealer-broker SmartJets and president of VIP Completions
Ben Shirazi, president of aircraft dealer-broker SmartJets and president of VIP Completions, said industry widely anticipates bonus depreciation to be on the plate in Washington this year.

With a new administration arriving in Washington, D.C., in January, some industry leaders are raising hopes of a return to full bonus depreciation on business aircraft sales. Congress renewed 100% depreciation as part of the Tax Cuts and Jobs Act of 2017, but that has been slowly phasing out since. Aircraft entering service this year are eligible for 60% accelerated depreciation.

Lawmakers last year had considered renewing the 100% bonus depreciation as part of a limited tax incentives bill that also would have renewed full research and experimental expensing. But unable to reach an agreement on some of the bill’s other measures, Congress pushed action on it into 2025, when many of the tax cuts established in the 2017 bill are set to expire.

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