Membership Services
End of the Year, 2010-Aircraft Purchase incentives:
Keep an eye on Congress and check the current tax-law details.
Although the 2008 & 2009 Federal stimulus programs have expired (except 2010 placed-in-service aircraft that were percentage manufactured and purchased in 2009), at this writing (Sept 8) there remains one Bill pending in the Senate to renew the extra business incentives again for 2010. President Obama’s Labor Day weekend proposal of new small-business 2010 100% write-off’s for job creation ‘might’ also get further airing and become a business aircraft purchase aid.
The one ‘sure’ benefit though for both personal and business-use aircraft purchase is the current low interest rates on financing your new or used aircraft, along with, the lowest purchase prices on used aircraft in a decade. Visit us online for information on financing an aircraft.
Potential owners may want to consider renting their aircraft to 2 or 3 named pilots at market-price rates. It may help trim your ownership costs substantially. Not all insurance companies provide this coverage so contact AOPA Insurance Agency at 1-800-622-2672 for details.
AOPA’s web publication: ‘The Pilot’s Guide to Taxes’ can provide a conceptual starting point or a basic review for your tax understandings. As always, we must state 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 us at AOPA’s Pilot Information Center at 800-USA-AOPA (800-872-2672).
October 8, 2010
