go buy a plane

[JohnR]

From the Cub Crafters website

2/15/2008 Yakima, WA:

STIMULUS BILL PASSAGE CREATES SUBSTANTIAL SAVINGS FOR A NEW AIRCRAFT PURCHASE​

2008 just became a great time to buy a new airplane! With passage this week of the U.S. Economic Stimulus Package, opportunities now exist for an unlimited 50% bonus depreciation for new assets placed in service during 2008. The 50% bonus depreciation allows an immediate deduction of 50% of the cost, followed by accelerated depreciation of the balance. Purchases taking advantage of these programs require an order and deposit being placed before the end of this year. Bonus depreciation opportunities will not carry over into new purchases initiated on or after January 1, 2009.

Furthermore…additional savings exists in the form of Expanded Section 179 Expensing. The stimulus package allows for an immediate deduction of up to $250,000 for qualified small business taxpayers. The expensing election applies to both new aircraft and used units that are subsequently rebuilt, meaning new production TOP CUBs and SPORT CUBs, as well as Rebuilt PA-18 SuperCubs should qualify.

 

[EdFred]

Probably can't take the depreciation on a used plane, and I can't afford the $400,000 for a new one.

 

[flyersfan31]

I'm in the business of having fun. Is flying around for fun a legitimate business purpose? If not, I don't have much chance in grabbing this little plum.