Certified CenterLearn More About How You Can Save Tax Dollars on a New BMW with Section 179 Tax Deductions
Did you know that you can take advantage of tax deductions for new commercial vehicles that exceed 6,000 pounds? Section 179 tax deductions allow you to save money when you add a new vehicle to your business' fleet. If you choose to add an SUV that weighs over 6,000 pounds to your collection, you can enjoy hefty deductions that make it easier to bolster your company fleet with capable vehicles. So, how can you save on your next commercial vehicle purchase? Our team can help!
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Section 179 Tax Deductions on New Vehicles Over 6,000 Pounds
Certain new models that have a gross vehicle weight rating between 6,000 pounds and 14,000 pounds qualify for deductions of up to $25,000 as long as they meet the other conditions for section 179 and are placed into service before December 31st.
Here at BMW of Devon, we can help you find the perfect commercial vehicles for your needs and walk you through the process of taking full advantage of section 179 tax deductions so that you can get as much out of this tax break as possible.
Four BMW models that meet the section 179 gross vehicle weight requirements include the new BMW X5, BMW X5 M, BMW X6, and BMW X6 M. Sleek, sporty, and lush with premium interior materials, these elegant BMW SUVs will make stunning additions to your company fleet. Visit us at our BMW dealership, and we'll be happy to get you behind the wheel and provide more details regarding how you can save tax dollars with section 179 tax deductions.
| 2017 Tax Year | 2018 Tax Year | |
| Section 179 Overall Limit | $500,000.00 | $1,000,000.00 |
| Section 179 Limit for SUVs | $25,000.00 | $25,000.00 |
| Bonus Depreciation | 50% | 100% |
| Additional 28 Of Depreciation (first year depreciation) | $11,160.00 | N/A |
| Qualifying Vehicles | New Vehicles Only | New and Used Vehicles |
| Example Vehicle | BMW X5 xDrive40i | BMW X5 xDrive40i |
| Sales Price | $80,000.00 | $80,000.00 |
| Section 179 Depreciation | $25,000.00 | $25,000.00 |
| Bonus Depreciation | 50% of amount remaining - $27,500.00 | 100% of amount remaining - $55,000.00 |
| Additional Depreciation (first year depreciation) | $11,160.00 | N/A |
| Total Depreciation | $63,660.00 | $80,000.00 |
| Total Depreciation (% of purchase price) | 79.58% | 100% |
This is for informational purposes, we are not tax professionals. Please consult a tax expert regarding your personal situation and advice before making any decision.
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Learn more about section 179 tax deductions and explore BMW vehicles that qualify when you stop by our dealership. We'll be happy to go over all the ins and outs and help you start your journey towards bolstering your fleet with an exceptional new BMW vehicle!
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