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Deduction limits for corporate jets

โœ Scribed by Shirley Dennis-Escoffier

Book ID
102297471
Publisher
John Wiley and Sons
Year
2007
Tongue
English
Weight
76 KB
Volume
19
Category
Article
ISSN
1044-8136

No coin nor oath required. For personal study only.

โœฆ Synopsis

The Internal Revenue Service recently issued proposed regulations on the deduction limits for corporate aircraft used by executives for nonbusiness entertainment travel. These rules reflect efforts by Congress to limit the costs that businesses can deduct when corporate aircraft are used for personal travel by remaining focused on the entertainment, amusement, or recreational use by senior executives rather than on the purpose of the flight. While these proposed regulations continue most of the limits set under earlier guidance issued in 2005, they incorporate several new provisions.

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