Project Description

The Tax Court disallowed 2003 bonus depreciation on a $22 million airplane bought 12/30/2003 in Michael Brown.  Although the taxpayer bought the plane in 2003 and made a couple of business flights in 2003, there were modifications made to the plane in 2004 (including the installation of a conference table and a display screen for presentations) that were necessary for the plane to perform its business purpose, based on the taxpayer’s own testimony that the modifications were important for his business.

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