Originally Posted by
Squawk7700
I was told by an airline pilot friend that owner/pilots in the USA, get significant tax breaks for owning their aircraft. Supposedly they only have to attend and display in at least one airshow and in return, they can depreciate their aircraft and claim expenses against it. I’m talking big expenses such as on ex-fighter jets, DC 3’s and the like...
If this is correct, which I would assume it is, I’d be interested to know if that’s contributing to the boom and if so, how it works.....
I am not an expert but I think that what you are talking about is that historical aircraft available for public display get an exemption for "Use tax" and "Property Tax" that many states over there have. See for instance this description:
https://www.boe.ca.gov/proptaxes/ahs_exemption.htm
It varies from state to state but I dont think that you can claim operating expenses as deductions....