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Topline A little-discussed portion of the billionaire President Donald Trump’s “Big Beautiful Bill” hands a lucrative break to ultrawealthy Americans in the form of a tax policy for private jet purchases. An under-the-radar provision of Trump’s spending bill lands a massive potential tax advantage for … More the ultrawealthy as part of a provision which would cost an estimated $378 billion. Patrick McMullan via Getty Images Key Facts Part of the spending package that just passed the Senate is the permanent restoration of the 100% “bonus depreciation” federal law, which allows businesses to write off the full amount of qualifying items in the year of purchase. Bonus depreciation was originally a part of the Tax Cuts and Jobs Act of 2017, but phased down from the 100% level beginning in 2023 and was set to permanently expire by 2027, according to Thomson Reuters. The bonus depreciation policy applies to a slew of qualified, physical business expenses which depreciate over time, such as machinery and company cars, but the policy is often associated with big-ticket luxury items, such as private aircraft, and its institution last decade led to a boom in jet sales. That means that unlike standard business accounting procedures in which capital investments are spread across multiple years and are never fully written off, the full value of qualified property could be written off year one. A $10 million plane could now be a $10 million deduction in that same year, noted the aviation industry publication Flying magazine. “For someone interested in buying a jet, whether new or used, this is a very big deal,” Matthew Bere, managing director of aviation at the Oklahoma-based bank BOK Financial, said this week, saying he expects the megabill’s passage to “spur a lot of activity in aircraft sales.” Chief Critic This is…

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Filed under: News - @ July 3, 2025 8:24 pm