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Senate releases Trump tax and Medicaid blueprint. The $5 trillion question.
For those of you who own private jets, be aware that this bill now provides 100% bonus depreciation for the cost of the jet in the first year of ownership, as long as the jet is used mainly (more than 50%) for business. So you can deduct the entire cost of the jet in one year rather than over the useful life of the jet. This bill applies to any jet purchased beginning with January 1 2025. If the bill stays as is, there will be a windfall for people who already have purchased these jets. You should therefore not hesitate to make a purchase decision, since jets are no doubt going to be in short supply if the bill passes as written. This provision is clearly aimed at providing relief to those members of the middle class who aspire to own jet planes. Just another example of how the bill addresses the needs of ordinary Americans.
Oh, in case you were concerned, this bill also retains that carried interest exemption for Wall Street traders. This exemption applies only to Wall Street traders who have made millions and millions of dollars through mergers and acquisition activity. They do not have to pay income tax on their profits, but can instead pay only capital gains tax. This is clearly a gift to Wall Street traders but I am sure you want to make this gift as much as I do.
Cool! I've always wanted my own personal jet. Do they cost very much?
You could purchase a light jet for a mere $3 million! Be sure to allocate at least $500,000 for annual maintenance, inspections, and operations. Annual costs of at least $200,000 for crew salaries and $50,000 for hangar fees must also be budgeted. While the Gulfstream G650 and comparable aircraft may be out of reach for non-centimillionaires, many successful investors surely could afford their very own personal light jet. It's an opportune time to acquire aircraft—the proposed 100 percent bonus depreciation¹ can provide an enormous cash flow boost!
Comments
Turns out that the GOP loves a welfare check, despite any notions to the contrary.
https://msn.com/en-us/money/savingandinvesting/us-treasurys-may-be-losing-their-safe-haven-status-and-these-bonds-could-take-their-place/ar-AA1GSYNV
Few ETF alternatives to treasury are suggested.
https://x.com/david_charts/status/1936221877891952910?s=46&t=eFdV3_Ee_q0dJcUiWgzIfA
Be sure to allocate at least $500,000 for annual maintenance, inspections, and operations.
Annual costs of at least $200,000 for crew salaries and $50,000 for hangar fees must also be budgeted.
While the Gulfstream G650 and comparable aircraft may be out of reach for non-centimillionaires,
many successful investors surely could afford their very own personal light jet.
It's an opportune time to acquire aircraft—the proposed 100 percent bonus depreciation¹
can provide an enormous cash flow boost!
https://theflyingengineer.com/private-jet-costs/
¹ Consult your tax specialist for additional information.