Planes and tax deduction reminds me of my early days! I have spoken on this subject and posted threads before in regards to what wonderful black holes airplanes were in my previous history. My wife got into flying back in the late 1970s and I was convinced owning airplanes was a great tax write off. Of the four airplanes we owned, three crashed and the other one was involved in a lawsuit with Cessna aircraft due to the poor paint they were using at that time. Back then, the methods of depreciation were much more flexible than they are now, in my opinion and I still felt that it was her crappy deal.
Good luck to those that try it. Rich
PS – I haven't read Stephen's link yet but I will. I doubt that I will change my mind!