18 Apr 2024, 01:02 [ UTC - 5; DST ]
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Post subject: Re: Is Bonus Depreciation Going Away? Posted: 15 Jan 2021, 17:48 |
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Joined: 06/17/14 Posts: 5003 Post Likes: +1949 Location: KJYO
Aircraft: C-182, GA-7
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You evil rich airplane owners need to sell your carbon spewing speedbirds and take a bike or ride the train or something.\ Oh, wait, you are... Nothing to see here. ...move along.
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Post subject: Re: Is Bonus Depreciation Going Away? Posted: 15 Jan 2021, 18:45 |
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Joined: 12/03/14 Posts: 19252 Post Likes: +23622 Company: Ciholas, Inc Location: KEHR
Aircraft: C560V
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Username Protected wrote: You evil rich airplane owners need to sell your carbon spewing speedbirds So that nice somewhat less rich folks can fly them instead. Mike C.
_________________ Email mikec (at) ciholas.com
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Post subject: Re: Is Bonus Depreciation Going Away? Posted: 15 Jan 2021, 21:10 |
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Joined: 06/17/14 Posts: 5003 Post Likes: +1949 Location: KJYO
Aircraft: C-182, GA-7
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Username Protected wrote: You evil rich airplane owners need to sell your carbon spewing speedbirds So that nice somewhat less rich folks can fly them instead. Mike C. Yes! We need to redistribute wealthy airplanes. Granted, I would like to fly for the Bezos Air Force! They are making some nice terminals for their pilots and RUMINT is he is going to get in the FBO game.
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Post subject: Re: Is Bonus Depreciation Going Away? Posted: 17 Jan 2021, 00:00 |
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Joined: 08/07/09 Posts: 45 Post Likes: +15
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Username Protected wrote: 1) raising the top marginal rate back to 39.6% from the current 37%, 2) reinstating the full deduction for state and local taxes, 3) eliminating the lower capital gains rate (which would be a big change), 4) raiding the corporate tax rate several clicks but not back to where it was, and 5) lowering the estate tax exemption amount back to $5 mm from its current value of $11 mm.
I could see a big push to make it retroactive, especially #2 followed by the rest
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Post subject: Re: Is Bonus Depreciation Going Away? Posted: 18 Jan 2021, 17:25 |
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Joined: 12/30/15 Posts: 714 Post Likes: +740 Location: NH; KLEB
Aircraft: M2, erstwhile G58
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Username Protected wrote: 1) raising the top marginal rate back to 39.6% from the current 37%, 2) reinstating the full deduction for state and local taxes, 3) eliminating the lower capital gains rate (which would be a big change), 4) raiding the corporate tax rate several clicks but not back to where it was, and 5) lowering the estate tax exemption amount back to $5 mm from its current value of $11 mm.
I could see a big push to make it retroactive, especially #2 followed by the rest
As someone once said,.... ""Elections have consequences." Would any one be surprised?
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Post subject: Re: Is Bonus Depreciation Going Away? Posted: 24 Jan 2021, 10:05 |
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Joined: 07/20/08 Posts: 1710 Post Likes: +344 Location: KFOK Westhampton, NY
Aircraft: 1978 V35B, Navy N3N
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Username Protected wrote: Death and Taxes.... And user fees
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Post subject: Re: Is Bonus Depreciation Going Away? Posted: 13 Jun 2023, 13:25 |
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Joined: 11/30/12 Posts: 4006 Post Likes: +4411 Location: Santa Fe, NM (KSAF)
Aircraft: B200, 500B
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In response to the title, the answer is "NOT YET!" if the current "Build It In America" house bill passes as written. We've got Miracle Max working on this and bonus depreciation is only "mostly dead." "The provision extends 100-percent bonus depreciation for qualified property placed in service after December 31, 2022, and before January 1, 2026 (January 1, 2027, for longer production period property and certain aircraft) and for specified plants planted or grafted after December 31, 2022, and before January 1, 2026. The provision retains 20-percent bonus depreciation for property placed in service after December 31, 2025, and before January 1, 2027 (after December 31, 2026, and before January 1, 2028, for longer production period property and certain aircraft), as well as for specified plants planted or grafted after December 31, 2025, and before January 1, 2027." http://waysandmeans.house.gov/wp-conten ... merica.pdf
_________________ Be Nice
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