NBAA: Federal Appeals Court Upholds Current Deductibility of Engine Maintenance | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.06.24

Airborne-NextGen-04.30.24

 Airborne-Unlimited-05.01.24 Airborne-AffordableFlyers--05.02.24

Airborne-Unlimited-05.03.24

Tue, Mar 29, 2005

NBAA: Federal Appeals Court Upholds Current Deductibility of Engine Maintenance

Good News For Aircraft Operators

Our ever cost-conscious friends at NBAA tell ANN that a recent ruling by the Sixth Circuit Court of Appeals in FedEx Corporation v. United States of America provides valuable information to owners and operators of business aircraft. The question of expensing or capitalizing costs associated with heavy maintenance has been puzzling to taxpayers over the years. Current expenses that are fully deductible in the year incurred are most valuable.

Costs that must be capitalized and realized over several years are valuable, but less so than currently deductible expenses. When considering high-cost items, such as engine maintenance costs, the difference can be quite significant.

Until recently, the cases and rulings on the subject provided an inconsistent record and poor guidance for aircraft owners looking for a definitive answer to the question: "Are engine maintenance costs currently deductible as expenses or must they be capitalized over time?"

FMI: http://web.nbaa.org/member/ops/taxes/200503.php

Advertisement

More News

ANN's Daily Aero-Term (05.07.24): Hazardous Weather Information

Hazardous Weather Information Summary of significant meteorological information (SIGMET/WS), convective significant meteorological information (convective SIGMET/WST), urgent pilot>[...]

ANN's Daily Aero-Linx (05.07.24)

Aero Linx: The T-6 Racing Association The T-6 Racing Association is all about T-6‘s and racing. Our mission is to bring great racing to our fans in Reno and other venues wher>[...]

Airborne 05.01.24: WACO Kitchen, FAA Reauthorization, World Skydiving Day

Also: Electra Aero, AMO-CBP v Smugglers, Naval King Airs, Boeing Deal To the surprise of everyone involved, Waco Kitchen shut down both airport operations with little warning and h>[...]

Airborne Affordable Flyers 05.02.24: Bobby Bailey, SPRG Report Cards, Skydive!

Also: WACO Kitchen Bails, French SportPlane Mfr to FL, Dynon-Advance Flight Systems, Innovation Preview Bobby Bailey, a bit of a fixture in sport aviation circles for his work with>[...]

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

Also: Virgin Galactic, B-29 Doc to Allentown, Erickson Fire-Fighters Bought, FAA Reauthorization After dealing with a big letdown after the unexpected decision by Skyreach to disco>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne-Flight Training 05.09.24: ERAU at AIAA, LIFT Diamond Buy, Epic A&P

Airborne 05.08.24: Denali Update, Dad-Daughter Gyro, Lake SAIB

Airborne-NextGen 05.07.24: AI-Piloted F-16, AgEagle, 1st 2 WorldView Sats

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC