Wed, Mar 04, 2009
Tax Write-Off Isn't ONLY For New Aircraft
Recent changes to US tax code regarding bonus
depreciation -- part of the massive federal stimulus
bill passed last month -- don't just apply to pilots looking to
purchase brand-new aircraft. Officials in Cessna Aircraft Company's
Customer Service organization note enhancements made to existing
business aircraft in 2009 may qualify for the new bonus
depreciation tax treatment, as well.
Cessna is quick to note the company isn't qualified to provide
tax advice -- that's what accountants and tax professionals are for
-- but adds that, depending on the tax accounting treatment a
company uses for the upgrade, the depreciation could amount to
healthy savings for owners of existing Cessna business
"This is a good time to consider enhancements to your Citation,
such as a glass cockpit, productivity features in the cabin,
upgraded operational or navigational systems," said Mark Paolucci,
senior vice president, Cessna Customer Service. "As long as the
upgrade adds value to the aircraft or increases the life of the
aircraft, it may qualify for favorable bonus depreciation tax
treatment in 2009."
Paolucci added the planemaker offers a number of upgrades for
Citations such as communications upgrades, avionics upgrades, TCAS
and radar upgrades, enhanced instrumentation, RVSM, WAAS/FMS
updates, interior upgrades, and new paint.
The upgrades must be installed on the aircraft before December
31, 2009 to qualify. Of course, the potential depreciation
write-off doesn't apply only to Cessnas...
Stormbirds A confederation of Luftwaffe-related web sites, providing reference-grade coverage of the Messerschmidt 262 and other advanced combat aircraft of the Third Reich.>[...]
A safety alert issued by ATC to aircraft under their control if ATC is aware the aircraft is at an altitude which, in the controller's judgment, places the aircraft in unsafe proxi>[...]
"You have a huge job ahead of you. The challenges are many and the solutions are hard." Source: Senate Commerce Committee Chair Jay Rockefeller (D-WV).>[...]
Get A Customized ANN News Portal For YOUR Website! As we promised, the ever-so-busy software geeks at ANN have been working overtime on a number of cool new tools and toys... and t>[...]
Effort To Raise Funds And Awareness For The Special Operations Warrior Foundation A group of Airmen with the Air Force Seven Summits team reached the highest point of the world, Mo>[...]