JOBS Act limits corporate deductions

JOBS Act limits corporate deductions: "JOBS Act limits corporate deductions
by Paul Lowe

While general aviation interests hailed the tax law that extended the deadline for the 50-percent accelerated bonus-depreciation allowance for business aircraft, the law also contains a provision that severely limits expenses that a company may deduct when employees use an employer-provided aircraft for personal travel.

In effect, the law reverses what has become known generically as the �Sutherland Lumber decision.� Sutherland Lumber-Southwest allowed several of its officers to use the corporate jet for nonbusiness purposes such as vacations and charitable activities"