Time to Buy a New Plane and Expense 100% of it!

The provision in the tax law just passed by congress has the “100% expensing” policy, which allows businesses in 2011 to fully write off “productive capital investments” such as delivery trucks, machines and aircraft rather than depreciate the cost over a period of years.  Welcome to that new plane you had your eye on or that new GPS and/or flight director!

“The expensing provision will encourage sales of airplanes, engines and avionics in a market that continues to experience a very slow recovery,” says Pete Bunce, CEO of the General Aviation Manufacturers Association.

With the immediate write-off, firms will have lower taxable income and more money to spend. A Treasury Department analysis estimates 2 million companies will take advantage of it. Full Story from USA Today

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