• Sales: 888-594-3268
  • Service: 855-656-8455

  6001 Pan American Frwy. NE
Albuquerque, NM 87109

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X5 AND X6 TAX BENEFITS

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Sandia BMW

6001 Pan American Frwy. NE
Directions Albuquerque, NM 87109

  • Sales: 866-428-9748
  • Service: (888) 653-5059
  • Parts: 888-594-3268

Hours

  • Monday 8:00 AM - 6:30 PM
  • Tuesday 8:00 AM - 6:30 PM
  • Wednesday 8:00 AM - 6:30 PM
  • Thursday 8:00 AM - 6:30 PM
  • Friday 9:00 AM - 6:00 PM
  • Saturday 9:00 AM - 6:00 PM
  • Sunday Closed
 

The X5 and X6 lead the segment with a wide array of features and benefits. One that everyone may not be aware of is a very significant tax deduction that is available when the vehicle is purchased for business use. The IRS categorizes SUVs with a gross vehicle weight in excess of 6,000 lbs differently than other luxury automobiles. As a result:

        Business owners that purchase an X5 or X6 may be eligible for an Immediate Tax Write-               Off of up to $25,000 of the Purchase Price.
        Furthermore, an additional Bonus Depreciation Tax Write-Off is also available for such         vehicles purchased on or before December 31, 2016.

Here's an example of how the math works:

    X5 Purchase Price: $60,000 with 100% Business Use
    - Immediate tax depreciation write-off @ $25,000
    - Additional 50% bonus depreciation deduction (($60,000 - $25,000) X 50%) @ $17,500
    - 1st year Depreciation Write-Off (($60,000 - $25,000 - $17,500) X 20%) @ $3,500.
    - Potential total year depreciation of $25,000 + $17,500 + $3,500 = $46,000

That's a really substantial savings. To qualify, the X5 or X6 must be purchased (not leased) and must be used for at least 50% for business purposes.

To ensure a business owner can take advantage, the X5 or X6 must be placed into service by December 31, 2016.

**Sandia BMW is not an accountant nor does it pretend to be**  We are in the business of providing vehicle advice not tax advice. Customers with questions regarding this topic should consult their individual tax adviser to determine their eligibility for this deduction.