December is a popular time to take delivery of new or pre-owned aircraft. \u00a0Some buyers of new aircraft may also be anticipating bonus depreciation this year. \u00a0But the holiday season also draws aircraft owners into the trap of using their newly-acquired aircraft for non-business entertainment flights and perhaps for international trips. \u00a0It is very important to be careful about \u00a0this type of use \u00a0in 2012 so that any tax planning that you have done (e.g. bonus depreciation, entertainment disallowance) will not be adversely affected by actual flight operations.\u00a0 This can be especially surprising if you acquire an aircraft in December. \u00a0Think about it, instead of trips spread over 365 days and the ability to “catch up” with business flights, every day of December works out to be about 3% of the entire tax year of 2012 with respect to the aircraft! \u00a0So, if the aircraft will be out of the country (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" December is a popular time to take delivery of new or pre-owned aircraft. \u00a0Some buyers of new aircraft may also be anticipating bonus depreciation this year. \u00a0But the holiday season also draws aircraft owners into the trap of using their…<\/span><\/p>\n