News & Analysis as of

Aviation Industry Bonus Depreciation

Vedder Price

100% Bonus Depreciation Returns: What OBBBA Means for Aircraft, Rail and Heavy Equipment

Vedder Price on

Background - On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA,” H.R.1). Among other things, the OBBBA permanently reinstates 100% bonus depreciation under Section 168(k) for qualified...more

Husch Blackwell LLP

One Big Beautiful Bill Act Restores Full Bonus Depreciation for Qualifying Aircraft

Husch Blackwell LLP on

On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law. That legislation contained a wide variety of provisions as part of the administration’s tax reform agenda. One significant...more

Kohrman Jackson & Krantz LLP

Scrutiny on Personal Use of Business Jets Intensifies: IRS to Conduct Audits

Initially, tracking systems were employed to monitor the private jet usage of celebrities like Taylor Swift. Now, similar scrutiny will extend to executives who utilize business aircraft for personal purposes while claiming...more

Holland & Knight LLP

John Hoover Testifies for NBAA at IRS Hearing on Bonus Depreciation Regulations

Holland & Knight LLP on

The Internal Revenue Service (IRS) held a hearing on Nov. 28, 2018, regarding its proposed bonus depreciation regulations. Holland & Knight Partner John Hoover testified on behalf of the National Business Aviation Association...more

Holland & Knight LLP

Business Aviation Industry Should Take Note of Two Recent Tax Items

Holland & Knight LLP on

The Internal Revenue Service (IRS) has released a Notice regarding the tax treatment of meals, and the National Business Aviation Association (NBAA) has submitted comments to the IRS regarding the proposed regulations on...more

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