Recent tax developments involving business aircraft may present both challenges and opportunities

October 2012

Overview

Taxpayers should ensure that they understand the unique federal income tax issues associated with owning business aircraft, especially in light of recent IRS guidance relating to entertainment use of employer-provided aircraft, changes in use of business aircraft, bonus depreciation on business aircraft, and routine maintenance performed on aircraft engines. Failure to consider this guidance may result in compliance problems or missed opportunities.

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David VanEgmond
Private Company Services Operations Leader
Tel: +1 (313) 394 6531
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David VanEgmond
Private Company Services Operations Leader
Tel: +1 (313) 394 6531
Email

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