Tax Event for Your Cayenne

 
Purchase a Cayenne and write-off 100% on your taxes.
With the signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. Further, the bonus depreciation is now 100%. Used vehicles are now included in the bonus depreciation.
Example Chart
Section 179 Enhanced - 100% Tax Write-Off
 
  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 & Used Vehicles
  Example Vehicle  Cayenne V6  Cayenne V6
  Sales Price  $80,000.00  $80,000.00
  Section 179 Depreciation  $25,000.00  $25,000.00
  Bonus Depreciation  50% of amount remaining   100% of amount remaining 
  $27,500.00   $55,000.00 
  Additional 28 Of 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%
The tax consequences set forth above assume 100% business use and are for illustration purposed only. Paul Miller Porsche makes no representations or warranties concerning the accuracy of the information contained within. Prospective clients should consult with their individual tax advisers concerning the particular tax consequences to them under the Internal Revenue Code and other applicable federal and state laws.

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