Section 179 Updates and Aircraft Ownership in 2018

section 179 aircraftThanks to favorable tax laws including Section 179, aircraft ownership may cost less than you think.

The Section 179 Tax Deduction is meant to help business owners purchase the equipment they need to stay competitive and prosperous. In January 2018, the Tax Cuts and Jobs Act increased the Section 179 maximum deduction from $500,000 to $1,000,000.  This deduction applies to new and used equipment (including the purchase of aircraft used for business purposes). The new law also increased the spending cap on equipment purchases from $2 million to $2.5 million.

Historically, business owners have often waited to make tax-motivated purchase decisions until later in the year, as the limit for the Section 179 Tax Deduction amount was not always finalized until closer to year-end.

Fortunately, Congress decided in late 2016 to make the $500,000 limit permanent going forward, and the Tax Cuts and Jobs Act was approved at the beginning of 2018, allowing businesses to make better-informed purchase decisions throughout the year.

To qualify as a write-off for 2018, any aircraft purchased must be placed into service prior to midnight on December 31, 2018.

Bonus Depreciation rules may also apply to purchases of new aircraft and/or new equipment installed into used aircraft. For 2018, owners can depreciate up to 100% of the cost of the new aircraft and/or equipment.

To see how much savings you may receive using these tax incentives, you can try running some numbers using this free Section 179 Tax Deduction Calculator.

If you’re considering the purchase of an aircraft, we would love to consult with you! We can help you identify the right aircraft for your mission and achieve a successful transaction. We can also take trade-in aircraft or help you sell your current aircraft quickly and easily.

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What satisfied customers are saying...

  • I did not expect that the sale would go quickly, in fact, I anticipated that I would have a couple of extra months to fly the plane as we waited for a purchaser to come along. The marketing that was done on my behalf created an immediate interest in the plane. This transaction was easy on me, as the Performance team produced amazing results in record time with very little input on my part. In my opinion, there is no better team to represent you when you buy or sell an aircraft.
    – Thomas M. Belford, Nebraska
  • My first sale with Performance Aircraft was inked in four business days, for more than the listing price! The second, a Beechcraft King Air 300LW, was an impossible task—after five brokerage firms unsuccessfully tried, Performance Aircraft delivered! They understand the market, the people involved, and have so much integrity with both sides of the transaction. Theirs is a world wide reach, with an unbelievable staff. 
    – Tony Spears, Texas
  • I trusted the team at Performance Aircraft to help me identify an airplane that fit my mission, budget, and goals.  I'm happy to say that they exceeded all my expectations by keeping me informed throughout every step of the process.  You can trust that this team is not out to sell you an airplane but to be a lifelong aviation partner.  I would definitely use them again for selling or buying an aircraft.  Thank you!
    – Eric Leatherman, Nebraska
  • As a first time buyer, I was nervous about the entire process–plane selection, negotiations, paperwork, and closing. After my first contact with Stacey at Performance Aircraft, I knew they were the right fit to help me. She quickly made me feel at ease with everything. Their website is positively the best and most comprehensive in its class.  The process was smooth and the plane was exactly as it was represented. I couldn't be happier!
    – Dennis Cooley, Florida
  • Your team did exactly what you said you would do, which is a very rare trait in today's business world. I would recommend you guys have integrity.
    – Tony Wagner, Florida
  • I purchased an airplane from Performance Aircraft a few years ago and have also utilized some of their Flight Training Services since that time. I have developed a respect for their professional expertise in both their Training and Sales side of their business.
    – Mike Kelly, Nebraska
  • Because of your professional team and alliances with other top companies, you will be my first call when looking to purchase another airplane. Thank you again.
    – Tom Saxon, Florida
  • I would tell my friends they can trust Performance Aircraft to provide honest, ethical, and enthusiastic service. Bill found an aircraft that best suits our needs while staying well within our budget. The whole process was practically stress-free. And, the post-purchase training and follow-ups have been phenomenal.
    – Matt Young, Wyoming
  • Your communication here is very good and I really appreciated your honesty. Your follow up is awesome. Bill knew the value of airplanes as well as anyone I have met in the industry and I have been flying for over 30 years. You guys did a great job communicating with me throughout the process and kept the plane moving to closing. I was very pleased with everything.
    – Randy Christo, Nebraska
  • Their knowledge of the market allowed us to feel confident that they understood aircraft values. Additionally, the personality of the marketing team made this an easy decision that we would be treated well and communicated with frequently on their progress.
    – Skyhawk Flying Club, Nebraska
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