4 New X5M Drivers

[tastelid]

congrats on the new cars and related tax evasion

[Alberta]

Jealous ?

[Louv]

Are you hiring?

[Sinnedz]

This looks awesome. I wish I had 3 other friends or co workers that have similar cars to take pictures like these with lol.
Congrats to all of you!

[secretariat]

Tax avoidance, not tax evasion. One is exactly what you want to do, the other is a crime.

[Alberta]

Exactly

But jealous people prefer saying "tax evasion" ...

[P1]

Congrats! Would love to have seen a Melbourne Red in there though...

[NikonMan]

Looks like:

One MW on Mugello
One DG on Aragon
One LBB on Smoke or SS
One BSM on Smoke or SS

[dkhm3]

EPIC.

vote for front page of bimmerpost!

[dkhm3]

Originally Posted by tastelid

congrats on the new cars and related tax evasion

I'm sure Trump pays all his taxes, and he's the president so the door's open!!

[trev230]

Section 179 has been around a for a while. I've already used it three times for my business.

[Ex_Stig]

Originally Posted by t1blackout

We finally picked up our cars today for the management team (big new-car tax write-off incentive for vehicles of this weight in 2016)! Big thanks to BMW Charlottesville and everyone on this forum who helped us get a great deal and make an informed decision in a very short period of time. We could not be happier. These cars make no compromise.

Out of curiosity, is your firm bigger than the 4 member management team? Just wondering how the non-management team employees are reacting to the new vehicles.

[t1blackout]

Originally Posted by scotty91ss

Congrats, they look great. I forgot, were they owned by the company or each owned individually.

As we all know what is next. One guy in the group wants to modify theirs to be nicer and faster.

Company owned, but the primary drivers are listed as each of us. The only mods planned so far is chips for 2 of us, and I want a stealth sub.

[t1blackout]

Originally Posted by GNALUZU

Out of curiosity, is your firm bigger than the 4 member management team? Just wondering how the non-management team employees are reacting to the new vehicles.

There are about 28 of us right now. Everyone has been pretty cool about it. I feel that we pay everyone fairly and it really helps to be transparent with everything so that everyone understands why things are the way they are. We give bonuses where they are due... and these guys have definitely earned them

[t1blackout]

Originally Posted by Louv

Are you hiring?

always. but the pay is basically shit until you start making money for the company, then there is no ceiling.

[t1blackout]

Originally Posted by secretariat

Tax avoidance, not tax evasion. One is exactly what you want to do, the other is a crime.

I wish I could "like" this 100 times.

[t1blackout]

Originally Posted by trev230

Section 179 has been around a for a while. I've already used it three times for my business.

Section 179 PLUS the 2016/2017 50% new car tax credit for vehicles over 6000lbs gross weight.

[trev230]

Originally Posted by t1blackout

Section 179 PLUS the 2016/2017 50% new car tax credit for vehicles over 6000lbs gross weight.

That has been there too. Nothing new. All they did was extend the 50% bonus depreciation through 2019 with it phasing down over the next few years.

[t1blackout]

Originally Posted by trev230

That has been there too. Nothing new. All they did was extend the 50% bonus depreciation through 2019 with it phasing down over the next few years.

"New Car" incentive... it's not a new program. It only works for new cars and I'm pretty sure it expires in 2018 for the 50% and then goes down over the future years... at least that's how I remembered it.

[SpeedFreak]

Originally Posted by t1blackout

"New Car" incentive... it's not a new program. It only works for new cars and I'm pretty sure it expires in 2018 for the 50% and then goes down over the future years... at least that's how I remembered it.

I am trying to get some concrete specifics down regarding the Section 179 discount, and bonus depreciation.

I cannot find anywhere where it specifically states that it can only be applied to new vehicles. What I do see is it stating "new to you" so technically if I'm reading correctly, used cars apply as well.

Also, with regard to the 6000lb GVWR ruling, it states that "Limits for SUVs or Crossover Veicles with GVWR above 6000lbs - Certain vehicles with gross vehicle weight above 6,000 lbs qualify for expensing up to $25,000 if the vehicle is financed and placed in service prior to December 31 and meets other conditions."

So my question is, how are you doing 100% of the vehicle price, or are you instead at the specified $25,000?

[gizmo958]

any pics from the back by any chance?

[trev230]

Originally Posted by SpeedFreak

I am trying to get some concrete specifics down regarding the Section 179 discount, and bonus depreciation.

I cannot find anywhere where it specifically states that it can only be applied to new vehicles. What I do see is it stating "new to you" so technically if I'm reading correctly, used cars apply as well.

Also, with regard to the 6000lb GVWR ruling, it states that "Limits for SUVs or Crossover Veicles with GVWR above 6000lbs - Certain vehicles with gross vehicle weight above 6,000 lbs qualify for expensing up to $25,000 if the vehicle is financed and placed in service prior to December 31 and meets other conditions."

So my question is, how are you doing 100% of the vehicle price, or are you instead at the specified $25,000?

I have used Section 179 twice now. The vehicle has to be "new to you", not necessarily brand new. There haven't been any changes to the guideline with the exception of them extending it until 2019 with a phase out starting next year on the amount of depreciation you can take. The bonus depreciation has always been in place and allows you to take 50% off the top, not the entire thing. Then small chunks every year after. You There are no incentives for a brand new vehicle. It just has to be "new to you".