Skull Pilot
Diamond Member
- Nov 17, 2007
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Only if that jet was owned by a business and was used for business purposes.That they do not take advantage of them in no way means they are prohibited from taking advantage of them
Yes, I cxould deduct the cost of servicing my private jet, IF I HAD A FLIPPIN PRIVATE JET MORON.
But you can have a car owned by a business and deduct the costs related to the car. You're just jealous of the guy who has a jet.
Funny, when I take my business car in to be serviced, well I have to pay taxes on the bill. But when a private jet owner takes his jet in to be serviced, he don't, thanks to this bill.
Link?
And you get to deduct the total of the bill taxes included.
A measure in the Tax Cuts and Jobs Act would lower taxes on some of the payments made by owners of private aircraft to management companies that help maintain, store and staff those planes for owners.
The language would exempt owners or leasers of private aircraft from paying taxes on certain costs related to the upkeep and maintenance of the jets, according to a description from the Joint Committee on Taxation.
"Applicable services include support activities related to the aircraft itself, such as its storage, maintenance, and fueling, and those related to its operation, such as the hiring and training of pilots and crew, as well as administrative services such as scheduling, flight planning, weather forecasting, obtaining insurance, and establishing and complying with safety standards," it says.
Senate bill clarifies tax law for private jet companies
BFD. Buy a jet and take advantage of it.
This is small potatoes