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Personal Use of Corporate Jets: Flying Below the IRS’s Radar

June 27th, 2024|Categories: Accountant, Burns Firm, Business, Corporate Jet, CPA, CPA Dallas, CPA near me, Dallas CPA, Operating Expense, Tax, Tax Advisor, Tax Deductions, Tax Depreciation, The Burns Firm|Tags: Aircraft Depreciation, Corporate Jet, Corporate Jet Use Guidelines, CPA, cpa near me, Dallas CPA, Hangar Fees, Pilot Wages, tax, tax advisor, Texas CPA, The Burns Firm|

The IRS has announced a new audit initiative targeting the personal use of business aircraft. Some businesses took advantage of the Tax Cuts and Jobs Act's generous bonus depreciation provision [...]