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Politics : The Trump Presidency

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From: bustersmith	10/27/2025 1:42:05 PM
	2 Recommendations of 356929

When the kids get hungry have them read this article so they understand their sacrifice helps others... Private Jets and Car Washes Are the Latest Tax Shields for the Ultrarich Trump’s tax overhaul solidifies write-offs of certain assets — setting off soaring demand from wealthy Americans. snip... Business is booming for Dan Hurley, the founder of private jet broker Global Charter. Across the industry, jet sales are up 11% from a year earlier and 30% from the year before that, according to data collected by Hurley’s company. Now, his team is gearing up for a particularly busy couple months as American buyers race to lock in deals before the end of December. The key reason: a tax break solidified in the One Big Beautiful Bill Act that allows people with businesses to fully write off purchases of private jets in the year they buy them. Bonus depreciation was previously expanded under Trump’s 2017 tax overhaul, which temporarily allowed 100% write-offs on qualifying assets. That perk began shrinking by 20 percentage points each year after 2022 — meaning a $10 million plane bought in 2023 could generate an $8 million deduction, while one bought in 2024 would yield $6 million. The new law restores the full 100% deduction permanently. archive.ph

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