2014 BMW X5 35i Xdrive GVWR? 6,000???

[Hasek9339]

Ok Bimmer brothers....
Well we have sold a lot of rifle parts this year so my dad needs to buy a company car to utilize the 6,000 lb GVWR "loophole" in our tax code. Does anyone know if the GVWR for this truck is greater than 6,000lb.

In order to utilize this depreciation bonus the vehicle must have a GVWR of more than 6,000lbs you can they depreciate a lot of the cost to reduce the tax basis... sometimes 74.3% of its value

right now my dad is looking at
Porsche Cayanne Diesel
Audi Q7 TDI
and maybe the new X5 but only if it is heavier than 6,000lbs

I really like the new X5.... but really wish they had the Diesel engine out but I guess not for a few more weeks!

Thanks for the help!

[Sarcastik]

Yes. Both the 35i and 50i are over 6000 GVWR. Look for a label on driver's side step. Here's one from my 50i beast:

[chrisny]

Have you and your Dad compared (or asked your accountant) about the tax benefits of the 6000lb loophole (I thought they did away with that, but I guess not?) vs the benefits of leasing (write off nearly 100%, minus a small add back)?

[Sarcastik]

You have two more weeks to take advantage of the bonus depreciation and extended limits of Section 179. This is not a loop-hole, but the law changes next year. It's a great deduction which effectively could save you a lot of money.

On a >6000GVWR vehicle that costs $60,000, you are able to immediately deduct $25,000 + $17,500 + pro-rated regular 1st year depreciation, provided that the vehicle is used for business.

[Hasek9339]

Thanks guys!
Just took a spin in a Q7 TDI...
Next Cayanne Diesel
Then 2014 X5

[Sarcastik]

Just remember. You have to BUY brand new. Not used and not leased.

You also HAVE TO take possession of the vehicle prior to January 1st, 2014. You have to drive the car out of the dealer's parking lot before the beginning of the year. Otherwise, it doesn't count.