Preston Holland, founder of Prestige Aircraft Finance who advises high-net-worth clients on aircraft financing and structuring. He breaks down four ways to fly private. They discuss when buying a jet makes financial sense. They cover bonus depreciation, the 51% business-use rule, IRS scrutiny and required documentation.
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volunteer_activism ADVICE
Don't Rush Bonus Depreciation Without Planning
Consider 100% bonus depreciation only if you genuinely use the aircraft >51% for business.
Plan for depreciation recapture and work with specialists to document business use before year-one deductions.
insights INSIGHT
Ownership Needs High Utilization
Owning an aircraft becomes sensible when it buys back substantial time and you fly frequently.
Preston estimates ownership makes sense around ~150–200 flight hours per year for many owners.
insights INSIGHT
IRS Is Targeting Aircraft Deductions
The IRS is actively scrutinizing aircraft deductions and added a check-the-box on Form 4562.
They published a long audit guidance list demanding extensive documentation of business use.
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In this episode of the Tax Smart REI Podcast, Thomas Castelli and Nathan Sosa sit down with Preston Holland, President and Founder of Prestige Aircraft Finance, to unpack what it really takes to buy back your time through private aviation.
The conversation tackles the big tax questions: Can you really write off 100% of a private jet using bonus depreciation? What qualifies as legitimate business use? And how closely is the IRS scrutinizing aircraft deductions?
If you’ve seen the “write off a private jet” hype online and want the truth about what works and what doesn’t, this episode is required listening.
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