BMW Tax Advantage Program

Buying a car for business use may have tax-deductible benefits. Did you purchase or finance a new or used vehicle for your small business? If so, you might be able to get a nice tax benefit. The Section 179 tax deduction lets you deduct all or part of the cost of your vehicle in the first year that you use it for business, so long as you deduct all or part of the cost of equipment that is purchased or financed and put into place before December 31, 2021.

Since the BMW X6 and X7 have Gross Vehicle Weight Ratings (GVWR) greater than 6,000 pounds, they can be fully depreciated in the first year of ownership when used for business at least 50% of the time. At Bill Jacobs BMW we are the #1 volume BMW dealer in Illinois – two years in a row – so you know our dealership has the selection and Sales Advisors to get you the dream BMW you are looking for. Get behind the wheel of the Ultimate Driving Experience for your business in a new BMW X6 or X7 from Bill Jacobs BMW in Naperville.

Tax Depreciation Comparison

Click here for comparisons that illustrate the tax depreciation advantages for business owners who purchase a new BMW X6 or X7 before December 31, 2021†. Please consult with your tax professional in order to determine how this information can be applied to your individual business situation.

^†Comparisons based on Section 179 and 168(k) of the Internal Revenue Code, which allows for additional first year depreciation for eligible vehicles and reflects figures for owners who purchase vehicles for 100 percent business use and place vehicles in service by December 31, 2021. To qualify, the qualifying vehicle must be purchased (not leased) and must be used at least 50% for business purposes.

Individual tax situations may vary. The information presented was accurate at time of publishing. Federal rules and tax guidelines are subject to change. Consult your tax advisor for complete details on rules applicable to your business.

We are in the business of providing vehicle advice, not tax advice. Customers with questions regarding this topic should therefore consult with their individual tax adviser in order to determine their eligibility for this potential deduction.