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YSK that americans can now deduce private jet expenses from their taxes

flyboomerang.com The Big Beautiful Bill's Private Aircraft Subsidy Explained

Private Jets Ownership Now Tax-Advantaged Why the Big Beautiful Bill’s Private Aircraft Subsidy is the Green Light for a New Era of Travel — And How Boomerang is Making It Happen Private aircraft ownership has never been more achievable – and now is the time to act. With Donald Trump’s landmark Big ...

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Deduct. And the USA is taking the world in completely the opposite direction from where it needs to go.
- It would be nice if we could deduce them.

Finally! Do you have an idea how expensive those things are and how much my wage slaves must work for that?
- The cost ranges from $30,000 to over $100M

The law, in its majestic equality, allows rich and poor alike to deduct private jet expenses from their taxes.
- Made for the ~~rich white~~ people
- To be fair, you don't have to be rich to buy a Cessna 150. $35,000 can get you a nice old one
  Issue is with taking advantage of the tax benefits
  
  You realize that a majority of Americans don't have more than 1,000$ in their savings accounts?
  
  The cost of the plane is trivial compared to upkeep, hangar rental, fuel, and myriad other expenses.
  Sure, you can buy a plane for cheap, if you plan to keep it at your house somehow and never intend to use it.
  
  Maybe this somehow makes them start manufacturing planes again, remember seeing those homelesss pilot photos when they had a surplus of pilots and not enough planes or ppl taking flights
  Can't find an image on google was "will fly for food" or something like that.

For example, a $3 million aircraft purchase – of America’s favorite business jet, the Pilatus PC‑12 – could potentially lower your tax liability by over $1 million if you’re in the 35 % bracket. This isn’t just savings; the Big Beautiful Bill private aircraft subsidy offers financial strategy at its finest. You can read more about the tax benefits of private aircraft ownership in our special report here.
Thanks magats
- The PC-12 is a turboprop, not a jet, though.
  It's a leech hauler alright, but not a jet.
  
  The distinction isn't relevant to the point being made. Although the article title says "jets", the body of the article uses the more generic "aircraft" interchangeably with "jet."
  ~~I'd expect this is applicable to helicopters as well, though they have a different usage.~~
  Edit: I looked it up and apparently helicopters are not included. The distinguishing feature is "fixed wing" aircraft.
  
  Lemmutts love speaking authoritatively about things they don't actually know.
- Certainly a bigger problem is how someone who can afford over $1M private jet would be in only the 35% bracket
  
  I'm out of the loop did they get rid of 39%?
- Buy two! Save double!

Gross.

YSK that eating the rich is a nutritious way to redistribute wealth
- Way too much fat
  
  Don’t eat shit, mulch the rich.

I don't think that word means what you think it means.
- indeductable!
- Great deduction!

You allowed this before proper health care because that's Socialism? Communism? Gay?
- To be fair, America has the best aviation infrastructure in the world, and it is almost entirely socialized. So we do socialism sometimes

Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
Corporations are the only ‘persons’ which should be subjected to capital punishment, but billionaires should be euthanised through taxation.
- I like the that term. Just like obese personality for people who need large cars or are excessively loud.
- Calling it financial obesity makes it sound like a good thing. These are superfluous parasites.
  
  Any reality where financial obesity can me interpreted as a positive or desirable notion must conjure other fascinating paradoxes, please tell us more…
- Calling that financial obesity is so weird.
  
  The financially obese are weird, a perfectly cromulent framing.
  
  It leads to financial diabeetus.
  
  I love it. They have more than they'll ever need but can't help but continue to gorge themselves. Half of them probably miss out on sleep or family or other healthy activities in their pursuit of more wealth. Financial obesity is a fantastic term that paints a very accurate picture.
  
  Why? Is it not an apt description? Or does the wording just make you uncomfortable?
  
  Should we go back to fat cats?

YSK that deduct and deduce are two different words.

It's bonus depreciaton, not expenses, and it's a business tax benefit, not an individual tax benefit.
Businesses can, and for a long time, have been able to deduct aircraft expenses. Nothing has changed there, and it's not unique to this turd of a president. The return of bonus depreciation lets them depreciate faster, but again, depreciation is not new. It's reasonable to removed about that, but you have to get every fact wrong to make that complaint.
- And let me tell you how this works with cars. With planes it is the same, except that the savings are even better.
  A real rich person owns no cars. He owns a car sales company. That company has a few select cars, which the rich person can "test drive" whenever they like. If the prime time of a car is over, the car is sold and a new one is bought. The car sales company pays for everything: purchase, insurance, taxes, fuel, cleaning, etc. Of course, this company does not make any profits. On the contrary. So the rich person pays for these losses, and those payments are tax deductable.
  
  This also applies to houses, boats, and inevitably surrogates now that they're using them like pack mules.

Teachers can only deduct $300 worth of classroom supplies, fyi.
- They're lucky compared to lots of people.
  Deducting work expenses is no longer allowed at all for most people.
  I'm lucky that for my side gig with the large expenses (teaching underwater photography for a university), I'm an independent contractor, so I can deduct my gear.
  
  How many jobs require you to spend your own money on supplies?
  I bought paper to print, supplies for labs, pencils and notebooks for students who didn’t have any… any other job I’ve had has told me to expense that kind of stuff.

deduce private jet expenses
I can deduce it right from a receipt, if they give you one.

Thank you, government. That is really an improvement of my life!

Private jets should be taxed at 200% tax

I mean, chances are those people have accountants who already know that info.
- Where do you think the accountants find it out?!
  
  Tax Laws for Dummies
  
  Well, that's elementary, my dear 2910000.

Ah, and only 90% of gambling losses. Looks like another point against the poor.
Not that I’m condoning gambling, but, weird how those things impact polar opposite sides of the wealth gap.
- In my experience, poor people gamble a lot. I've never seen a rich person buy a lottery ticket
  
  That’s the point. Poor people gambling can’t write off their losses on taxes. Well, they can, just only up to 90%. Rather than all of it like it has been.
  
  rich people gamble plenty, they just call it investing and get way more tax write offs for doing so
- Wait, if you buy a 10 dollar scratch card, you can deduct 9 dollars from you income for tax purposes?
  
  You think the people buying scratch tickets are itemizing? Idk, maybe they will, they're not the brightest

I think it's more likely that one could deduce a person's tax burden from knowing they own a private jet.

I am pretty sure this isn’t new. Air travel is like any other business travel expense, and plane are an expense like a plumbers van is..
- My plumber's van has two hot stewardesses.
- Literally no one needs a private plane.
  
  My plumber comes with his private jet all the time.
  
  NFL teams would cause a riot if they flew commercial..
  It is cheaper for College sports to use private planes.
  Oil companies fly to remote places all the time on irregular schedules.
  One of my friend owns a demolition company that blows up shit all over the world, his company literally can not use commercial planes.
- Plumbers actually need their vans to get their stuff around but for these business people there’s no real reason they can’t fly in a normal plane like everyone else. They can fly fancy, but this whole private plane nonsense is comepletely absurd.
  
  There are so many uses for private aircraft. It isn’t all executives benefits
- Yeah, I was going to say I deducted airplane expenses for a client for twenty years

*deduct
- No no, if you're worth billions, and your tax is 0, we can deduce that your private jet expenses were... higher than average

Why not make it be for bicycle repairs instead?
- If I get write-offs for my bike collection, I will also be stimulating the construction sector as I barely have room to store them all as it is. :-D
- Only poor people ride bikes that’s why

How bout guillotine construction costs?

Do I have to have flown in one to deduct it?
- Yes. But like most taxed things you're too poor to be exempt so cough up.

I'm sure Jedidiah and Zeke must feel so relieved at finally receiving this news, the gotta fan themselves with their red goddamned caps.

Americans cannot. Oligarchs can. Oligarchs are not Americans

This isn't new. With extremely rare exceptions, "private" jets aren't owned by individuals, but by corporations. Operating expenses of hardware owned by a company is almost always tax-deductible.
Granted, that doesn't make it right. But it doesn't make it news, either.

Phew! I was worried for a second there

We couldve been a flight based country instead of cars if we went in another direction, when we had more pilots than planes
- Was never going to happen. The most efficient plane uses way more fuel than even a "gas guzzler". The common driver is dangerous enough with a land vehicle between mistakes operating and slack maintenance, imagine if that population were all flying around.
  
  I was more thinking taxi/uber, rather than the general population flying themselves lol, and car crashes are very common
  
  The population was well trained after being drafted, some war ended (idr history that well) and we had a fat surplus of pilots, eventually they increased the hours needed for training, etc. to bring those numbers down, and up until recentlly, we apparently had a shortage, according to google.

The reason why Krasnov wants the ex-Qatari Boeing 747.

You always could deduct it through depreciation. This allows you to depreciate it in one year though to cover a big windfall instead of spreading it out. Then if you sell it that's income you have to claim but you might not be in the highest bracket then.

Outstanding move

Kash Patel is gonna make a killing!

How many arms this guy got?
- Just the one that he does the Hitler salute with, silly

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