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Tax
Advantages |
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Income Tax Savings Available on
Purchase of New Cessna Aircraft
You may enjoy some tremendous tax
incentives offered by the Internal Revenue Code if you
utilize your aircraft in your trade or business, despite
the fact that bonus depreciation has ended for 2005
purchases. Depreciation laws allow the write
off of an aircraft over five years for Federal Aviation
Regulations Part 91 operators. With proper
planning and compliance of Federal Aviation Regulations
and the tax code, an aircraft owner can realize
significant tax relief on both income taxes and sales
and use taxes.
Due to favorable depreciation and interest
rates, tax savings can exceed payment costs for the
first five years! Click the links below to
view detailed tax depreciation for the following
aircraft.
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Business use includes: use in existing
businesses, new businesses, use as an employee,
and with proper elections, tax deductions are available
for personal use as well.
With
proper planning and documentation, an aircraft owner
has an opportunity to avail themselves of the significant
incentive provisions included in recent changes
in the tax law; and offset tax liability from outside
sources. Documentation should be contemporaneous,
precise, and maintained with a level of professionalism
to comply with both statutory and judicial requirements.
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is not intended to constitute tax advice. Your actual
tax benefit is dependent upon your specific tax situation
and your investment return on applicable first year
tax savings. Certain tax rules, such as the passive
activity loss rules, listed property limitations,
and others may reduce or eliminate the benefits discussed
above. Cessna Aircraft Company strongly encourages
customers to consult with their tax advisors before
making any investment decision based upon tax consequences. |
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Back to New Cessna Aircrafts
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