Stimulus package extends bonus depreciation rules
For business aviation, the latest $787 billion economic stimulus bill–H.R.1, the “American Recovery and Reinvestment Act”–giveth with one hand and taketh a

For business aviation, the latest $787 billion economic stimulus bill–H.R.1, the “American Recovery and Reinvestment Act”–giveth with one hand and taketh away with the other.

The legislation passed last month extends the accelerated depreciation rules enacted in last year’s stimulus bill to apply accelerated depreciation to eligible property purchased this year and placed in service by the end of 2010. But the bill also requires any recipient of Troubled Assets Relief Program (TARP) funds to have a board of directors-approved policy regarding certain expenditures, which could include the use of business aircraft.

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