2008 Reenactment of Bonus Depreciation Provision:
In 2008, Congress reenacted the Bonus Depreciation rules.
Under these rules, the purchaser of new aircraft who places the aircraft in service in 2008 can generally deduct over 50% of the cost of an aircraft in 2008.
The purchaser can also deduct the bonus depreciation in computing
alternative minimum taxable income.
2009 Extension of Bonus Depreciation Provision:
Congress has now extended the Bonus Depreciation Provision