News & Analysis as of

Tax Cuts and Jobs Act Aviation Industry

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

Baker Donelson

100 Percent Bonus Depreciation Phase-Out for Certain Corporate Aircraft Begins January 1, 2023

Baker Donelson on

The Tax Cuts and Jobs Act (TCJA), enacted in 2018, extended bonus depreciation through 2026 and increased first-year bonus depreciation to 100 percent for assets placed in service after September 27, 2017. While the buyers of...more

Holland & Knight LLP

NBAA Requests Hearing on Disallowance of Commuting Expenses for Aviation Industry in TCJA

Holland & Knight LLP on

The National Business Aviation Association (NBAA) submitted comments to the Internal Revenue Service (IRS) on Aug. 24, 2020, on behalf of the business aviation community with respect to Prop. Treas. Reg. § 1.274-14, which was...more

Robins Kaplan LLP

Financial Daily Dose 11.25.2019 | Top Story: London denies Uber license, sowing chaos for its 45k drivers there

Robins Kaplan LLP on

The City of London has denied Uber’s request to extend its license in the city over concerns for rider safety. The decision puts Uber’s 45,000 drivers there in limbo, though they’ll be able to continue operating while the...more

Robins Kaplan LLP

Financial Daily Dose 11.16.2019 | Top Story: Aramco Seeks Valuation of $1.7B, Well below Original Goal

Robins Kaplan LLP on

Saudi Aramco’s slow trickle of IPO-related information continued this weekend, including its goal of setting overall company market value at a staggering $1.7 trillion. The figure, though massive, is still well short of the...more

Robins Kaplan LLP

Financial Daily Dose 10.28.2019 | Top Story: The EU gives Britain flexible 3-month Brexit extension

Robins Kaplan LLP on

The EU has granted the UK another extension for the Brexit process, giving Britain until January 31 to leave (unless its Parliament passes a divorce deal sooner)....more

Holland & Knight LLP

NBAA Comments on IRS Notice Regarding Business Meals

Holland & Knight LLP on

The National Business Aviation Association (NBAA) on Nov. 5, 2018, filed the attached comments with the Internal Revenue Service (IRS) regarding IRS Notice 2018-76, which generally permits the deduction of business meals and...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

9 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide