Buy a Plane And Build Your Business
Posted on March 1, 2020 by Todd Peterson
Have you ever thought of buying a plane for your business? It might sound like something reserved for the super-rich, but buying a plane for even a small business can make a lot of sense. If you have employees or customers in many different locations, a small, practical aircraft could make your life easier and far more efficient. Convenience is a great advantage, but buying a plane can also make your business more profitable. Here are the top five benefits of buying a plane for your business.
Benefit Number One: Tax Benefits
Under a recent tax law, you can deduct the entire cost of buying and operating an aircraft for business purposes. If you are looking for a way to significantly reduce your tax liability and improve cash flows, this might be one of the best ways to do so. This law temporarily increases the bonus depreciation from 50% to 100%, up to a maximum deduction of $1 million. Act now to take full advantage of the deduction, and be sure to consult an accountant with experience in aviation tax law to discuss your specific situation.
Benefit Number Two: Impress Your Clients
Showing up for a client meeting in a limousine is cool, but imagine how much more impressed they will be when you arrive in your own plane! Studies have shown that clients take a very positive view of businesses that own their own aircraft. In fact, owning a small airplane can make your business look more profitable and make new clients more likely to trust in you and in the stability of your company.
Benefit Number Three: Access Remote Locations
If you find yourself often needing to arrange travel to remote locations, having your own business plane would be a game changer. No more flying into large commercial airports, only to spend hours driving to your final destination. Instead, by buying a business plane, you can fly directly into one of the more than 5000 smaller airports that are often much closer to remote locations, saving you both time and money!
Benefit Number Four: Save Time
There are many ways that owning a small business airplane can help you save time. If you fly or drive often, you could avoid hours of waiting in airports or negotiating traffic by using your own plane to get around instead. With less time spent on travel, you can accomplish far more in a single day than you previously thought possible. No more baggage claim, security lines, or long commutes. Just hop in and go!
Benefit Number Five: Health Protection
Due to the current COVID-19 pandemic, it’s wise to avoid crowds for health-related reasons and to reduce your exposure, which has become increasingly risky when flying often for business meetings. Having access to your own plane allows you to control how many passengers are with you, reducing the possibility of airborne virus transmission. Exposure is also minimized by avoiding crowded terminals and lounges.
Each benefit of having a private company aircraft is a great reason to consider investing in a plane. With so many advantages, it can become an integral part of increasing your success!
If you are interested in purchasing a plane, please contact us today!