#146 - Aircraft Tax Write-Offs Explained by a Former IRS Auditor, Victoria Boon

Hosts Tait Duryea and Ryan Gibson welcome former IRS auditor Victoria Boon to cut through the noise around aircraft tax deductions. Learn how bonus depreciation really works, why aircraft are treated differently from real estate, and what the IRS actually looks for during an audit. From Delta bonus taxation to leasebacks, qualified business use, and depreciation recapture, this episode is essential listening for pilots considering aircraft ownership as a tax strategy.

Victoria Boon spent 22 years at the IRS as a subject matter expert, including leading national audits focused on aircraft deductibility. She now co-owns Boon.tax and founded Boon Tax Educators, where she provides tax education for CPAs, enrolled agents, and investors. In this conversation, Victoria shares rare, insider insight into aircraft write-offs, audit triggers, and the mistakes that get taxpayers into trouble.

Show notes:

(0:00) Intro

(01:44) Why bonuses are over-withheld

(04:39) Aircraft deductions overview

(07:18) Bonus depreciation rules

(08:16) Qualified business use explained

(11:37) Depreciation recapture basics

(14:29) IRS documentation requirements

(18:02) Audit horror stories

(22:21) Why aircraft trigger audits

(37:56) 50% rule and bonus loss

(39:30) Passive Vs. Qualified business use

(46:36) Social media tax myths exposed

(53:45) Outro

Connect with Victoria Boon:

• Website: https://boon.tax/ 
• Structured Tax Education Classes and Workshops: https://boontaxeducators.com/ 

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*Legal Disclaimer*

The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.