The aircraft acquisition specialists at Jet Linx have some good news for you: from right now until January 1, 2023, you can write off up to 100% of the purchase price of a business jet during the first year of use. Unlike bonus depreciation in the past, this new “expensing” applies to both new and pre-owned aircraft.

A simple example: Let’s assume you spend $10 million on a new or pre-owned jet in 2019. We will also assume that your business makes $40 million (in profit) in that same year. If you use your private jet for business purposes only, then you may write off up to 100% of the purchase price of your aircraft. In turn, you will only be taxed as if your business made $30 million in taxable gains.

The only catch is that if you use the aircraft for leisure or personal trips, your tax write off will be reduced accordingly. Even if you do plan to use a business jet for some personal travel, the new laws still provide an excellent incentive.

Why is the current financial climate so conducive to purchasing private jets for business? Check out the follow reasons: