4 New X5M Drivers

[Fugly M3]

Originally Posted by onfireX5

You are majorly confused. My post SUPPORTS his position.

I was responding to all who injected themselves in that argument, not to you directly.

[Tripledigit]

So sick...congrats!

[paul223]

Originally Posted by LuisSF

Nice rides, but this shouldn't be celebrated on the backs of U.S. taxpayers.

This tax loophole needs to close. It needed to close 10 years when guys were using it to buy Hummers.

I do this all the time to reduce my tax bracket. This is my damn money! Not your or the government.

[GeeRam]

The shot of all four together is fabulous

The LLB/S and DG/AB combo's are the nicest

Nice to see your hard earned being used in such a cool way

[LuisBoston]

Originally Posted by E46M54325Ci

Somehow, I feared this thread would head in this direction. The tax code is full of nonsense. Singling out this guy and his company for taking advantage of it is just about as shitty as creating the nonsense.

That's why I tried to broaden it to include all who abuse this loophole.

For those against paying taxes I'd kindly ask that you drive someone else roads, get protected by someone else's military, and ask for financial guarantees on your accounts from someone other than the government. When your business fails you have a legal system to handle creditors so they don't come to your house and kidnap you or worse. Civilized society costs money and that's the problem in America, many seem to think someone else is going to pay for it.

Small business owners should be able to write down sensible expenses. $100-$150k cars that pollute the air I and our children breathe while making global warming worse don't count. I'm not even even saying they shouldn't have those types of vehicles, I'm just saying they shouldn't be subsidized.

I'm also not saying they're doing anything illegal, the law is the law, but I firmly disagree with the law and believe it's harmful to our country.

[aas5]

Originally Posted by LuisSF

That's why I tried to broaden it to include all who abuse this loophole.

For those against paying taxes I'd kindly ask that you drive someone else roads, get protected by someone else's military, and ask for financial guarantees on your accounts from someone other than the government. When your business fails you have a legal system to handle creditors so they don't come to your house and kidnap you or worse. Civilized society costs money and that's the problem in America, many seem to think someone else is going to pay for it.

Small business owners should be able to write down sensible expenses. $100-$150k cars that pollute the air I and our children breathe while making global warming worse don't count. I'm not even even saying they shouldn't have those types of vehicles, I'm just saying they shouldn't be subsidized.

I'm also not saying they're doing anything illegal, the law is the law, but I firmly disagree with the law and believe it's harmful to our country.

Who should be the judge of what "sensible" means and what category of expenses should be included as I am sure these mean different things for different people. How much pollution is enough or too much? One could argue that driving fast results in a higher gas consumption and pollution - do you drive all of your cheaper BMW cars slow? Are you a homeowner and get to deduct mortgage and other interest from taxes - if you are,do you voluntarily choose not to do that because you disagree with the law? There are just too many issues with your response and point of view. Take a look at this really good and thought provoking memo from a CA fund: https://www.oaktreecapital.com/docs/...g.pdf?sfvrsn=2

[LuisBoston]

Originally Posted by aas5

One could argue that driving fast results in a higher gas consumption and pollution - do you drive all of your cheaper BMW cars slow? A

I do drive slow - have no choice in the city.



I feel this particularly loophole should be closed. It's my prerogative to feel that way. The mortgage interest deduction also has negative externalities and should be reformed, but that's another argument for another forum.

I just don't like the general anti-tax attitude that I was attacked with. "It's my money" is too simplistic because none of us live in a vacuum.

[aas5]

[QUOTE I just don't like the general anti-tax attitude that I was attacked with. "It's my money" is too simplistic because none of us live in a vacuum.[/QUOTE]

I agree with that

[///Mobbin]

The question is, who will be the first of this group to drop the Dinan stage 2 tune/intake package in!
Dinan Stage 2 Tune and Carbon Intake - 716 HP 702 TQ

[cbertels]

[onfireX5]

Originally Posted by LuisSF

That's why I tried to broaden it to include all who abuse this loophole.

For those against paying taxes I'd kindly ask that you drive someone else roads, get protected by someone else's military, and ask for financial guarantees on your accounts from someone other than the government. When your business fails you have a legal system to handle creditors so they don't come to your house and kidnap you or worse. Civilized society costs money and that's the problem in America, many seem to think someone else is going to pay for it.

Small business owners should be able to write down sensible expenses. $100-$150k cars that pollute the air I and our children breathe while making global warming worse don't count. I'm not even even saying they shouldn't have those types of vehicles, I'm just saying they shouldn't be subsidized.

I'm also not saying they're doing anything illegal, the law is the law, but I firmly disagree with the law and believe it's harmful to our country.

My problem is with the theory "against paying taxes" or "backs of taxpayers ". The real problem is not with folks that pay a very high rate of tax that try to reduce the amount of total tax that they pay. An infinitesimal few might get their rate to zero, but most that pay a high rate of tax dollars can only slightly reduce that rate legally. And should. Look up the total tax percentage that is paid by the top 5% of wage earners. Much much more than their "fair share". The real abuse comes from the folks that pay no tax, work the system, drive on roads, are protected by the military, etc, etc and DO require somebody else to pay for it.

[sbash]

Originally Posted by LuisSF

That's why I tried to broaden it to include all who abuse this loophole.

For those against paying taxes I'd kindly ask that you drive someone else roads, get protected by someone else's military, and ask for financial guarantees on your accounts from someone other than the government. When your business fails you have a legal system to handle creditors so they don't come to your house and kidnap you or worse. Civilized society costs money and that's the problem in America, many seem to think someone else is going to pay for it.

Small business owners should be able to write down sensible expenses. $100-$150k cars that pollute the air I and our children breathe while making global warming worse don't count. I'm not even even saying they shouldn't have those types of vehicles, I'm just saying they shouldn't be subsidized.

I'm also not saying they're doing anything illegal, the law is the law, but I firmly disagree with the law and believe it's harmful to our country.

LuisSF,

I really don't get it. I don't think anyone here said that they expect to receive the benefits provided by the government for free. I believe the disagreement comes in when a high-earning taxpayer is expected to subsidize those benefits you mentioned for so many that aren't paying their fair share.

The average taxpayer is out about $8,500/year in Federal taxes. So how are the folks who are paying 5, 10, 20, or 30 times more than that (after their deductions) undeserving of the same government benefits that you mention? How are our cars subsidized when most of us, in addition to paying more than our fair share of Fed taxes also pay a far greater than average amount of sales tax and property tax based on the higher cost of our cars?

It's time to put away the Kool-Aid and think for yourself a bit. The people who are able to reduce their taxes to near zero by claiming a Section 179 deduction probably aren't making that much money anyway. In fact, they have probably overspent if such a deduction results in them paying even the average yearly tax ($8,500). The way to solve that is not to do away with the section 179 deduction, but instead tax lower income people at a fair share rate so that they can't go out, finance a new SUV for 7 years and pay zero tax or even get a bonus from the Fed for having low taxable income.

Just something to think about.

[Drpoomanchu]

I need a job here please

[t1blackout]

Originally Posted by sbash

Oh good lord LuisSF, I'm guessing you are employed by someone other than yourself.

First of all, it might be nice if you'd kindly tell us about these poor souls that you are referring to when you talk about "the backs of U.S. taxpayer"? You do realize that top-earning 1 percent of Americans pay nearly half (50%) of all federal income taxes and that bottom 80 percent of Americans only pay about 15 percent of all federal income tax? We all drive on the same roads, have the same opportunity in terms of public schools, benefit from some sort of government system, law enforcement, emergency services, supplemented healthcare, etc... The value of the services and benefits that the majority of folks receive is much greater than what they have to pay for it. The expense for all these things is still there, it's just that all of those system-gaming SUV buyers are the ones making up the difference for the people who aren't paying their own way.

Based on that reality, my way of looking at things is that the folks buying the expensive SUVs and the X5Ms in particular, are the real taxpayers carrying the burdon. How about get off our friggin backs! After all, is it really fair that just a few percent of tax payers have to support a system where the largest majority are net takers ?

Secondly, please explain how taking an accelerated depreciation hurts your so-called "tax payer"? Either way, the vehicle gets depreciated. Depreciating the vehicle early creates an incentive to buy more vehicles. When you get rid of the vehicle, any value remaining in the vehicle goes back towards income and is taxed at the appropriate rate. If anything, more vehicles are purchased which in turn creates a job for someone. The section 179 and Bonus depreciation helps to create jobs.

I know it's a novel idea, but at some point, having a job and actual income is more important than penalizing someone else for their hard work and success.

[t1blackout]

Adam and I, for sure... (Blue / Grey)

We're researching packages now. I don't want to do exhaust but I don't mind doing an intake... Are there any that are recommended that don't void the warranty?

Originally Posted by ///Mobbin

The question is, who will be the first of this group to drop the Dinan stage 2 tune/intake package in!
Dinan Stage 2 Tune and Carbon Intake - 716 HP 702 TQ

[t1blackout]

Originally Posted by Drpoomanchu

I need a job here please

resumes to brent@govsmart.com
http://www.govsmart.com/career-opportunities/

[C5 FOR]

Great buys guys.

You musta known some questions/tax questions were coming your way when posted.

Seems like you're well on top of it. Well done.

May the road ahead be joyful, free of bullshit and potholes.....

Enjoy!!!

I'm a blue kinda guy........

[t1blackout]

Originally Posted by C5 FOR

Great buys guys.

You musta known some questions/tax questions were coming your way when posted.

Seems like you're well on top of it. Well done.

May the road ahead be joyful, free of bullshit and potholes.....

Enjoy!!!

I'm a blue kinda guy........

The blue is definitely the color that pops the most. I like looking at it the most, especially in contrast with the awesome interior options... I got the grey because I think it fits my personality the most. I'm really excited for all of us and I appreciate all of the support and nice things people are saying.

[t1blackout]

Originally Posted by AylinNett

Nice! Do you have some interior pics?

Here you go!

[Xtabi]

Originally Posted by LuisSF

I do drive slow - have no choice in the city.



I feel this particularly loophole should be closed. It's my prerogative to feel that way. The mortgage interest deduction also has negative externalities and should be reformed, but that's another argument for another forum.

I just don't like the general anti-tax attitude that I was attacked with. "It's my money" is too simplistic because none of us live in a vacuum.

SHAME on the OP for following the law!

SHAME on the OP for establishing a very successful small business!

SHAME on the OP for MAKING jobs for his fellow Americans!

Are you with me San Francisco?!?! Join me as we take this movement across the country!

[e36]

To those in the know, how will the new tax law affect these purchases for 2018? Please dumb it down for an accounting illiterate .

[aas5]

Under the new act, you get to deduct 100% of the purchase price in year of acquisition for any new or used tangible depreciable property vs. 50% under the old law. "Used" means original use of the property need not commence with acquiror but may not be acquired from related person or in a non-taxable transaction. So a big improvement in tax benefit if you can use your car for business.