Cash is no longer king for some buyers who are looking to make use of cryptocurrency for multimillion-dollar purchases, mitigate their taxes through the 2017 Tax Cuts & Jobs Act (TCJA) for private jet purchases, or charter an aircraft to roam the skies.
The world’s most advanced, forward-looking platform designed to connect holders of cryptocurrencies to the sky was announced today in Miami, Florida.
“JETT is leading the way in connecting holders of cryptocurrencies to private air travel and aircraft ownership while incorporating the full tax benefits of the purchase and leasing of assets,” said Barry Oberholzer, Partner at JETT.
With an in-depth knowledge of the aircraft industry and decades of experience within the fintech and aviation markets, the JETT team brings their expertise to owners of cryptocurrencies, introducing access and freedom for those previously only being serviced via the traditional fiat world.
“Technology is constantly evolving, and so is consumer demand for speed and efficient service. By connecting crypto holders with aviation assets, our exclusive platform provides attractive opportunities and allows us to deliver a boutique service to our clients” said Oberholzer.
With aircraft owners willingness to accept, Bitcoin, Ethereum, and many other leading altcoins, JETT presents a game-changing platform that allows the diversification of an individual’s wallet while also providing longer-term tax benefits, leasing options for new owners, and unprecedented access to charter flights without the need to transition into fiat currencies.
The use of cryptocurrency in the US has soared, while in developing countries with unreliable currency, the wealthy are turning to virtual wallets when making high-level purchases.
By taking advantage of the TCJA, JETT’s new aircraft deduction platform for the mega-wealthy of the crypto world accounts for much, if not all, of their millions in tax liability — meaning buying a new private jet could practically wipe out their tax bill in the year they buy it.
Overall, the bonus depreciation provisions of the TCJA are highly favorable to high-net-worth individuals and the equipment leasing and finance industry. The time to take advantage of these provisions, however, is now.