Membership Services
Incentives, low interest rates make 2010 a time to buy
The extension of bonus depreciation, which allows a business to depreciate 50 percent of the cost of a capital asset within the year the purchase is made, gives businesses incentive to purchase an aircraft and reap the benefits of ownership before the end of 2010.
An additional benefit, for both personal and business-use aircraft purchases, is the current low interest rates on financing new or used aircraft, along with the lowest purchase prices on used aircraft in a decade. Visit the AOPA Aircraft Financing Program for information on financing an aircraft.
Potential owners may want to consider renting their aircraft to two or three named pilots at market-price rates. It may help trim ownership costs substantially. ot all insurance companies provide this coverage, so contact the AOPA Insurance Agency at 800/622-2672 for details.
AOPA’s online publication “The Pilot’s Guide to Taxes” can provide a conceptual starting point or a basic review for your tax understanding. As always, remember that AOPA is not licensed to give tax advice—you are urged to contact your tax advisor for your own unique financial circumstances. If you need help finding a tax professional with aviation experience in your area, call AOPA’s Pilot Information Center at 800/USA-AOPA (800/872-2672).
November 16, 2010
