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X5 E53 (1999 - 2006)
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  #1  
Old 10-05-2004, 05:56 PM
AndrewL AndrewL is offline
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Mein Auto: y2k X5 4.4i Sport
Woohoo finally won't have to pay "That" much taxes!

I just got a call from my bookeeper and she just talked to the CPA...it seems i won't owe any additional taxes for '03! The savior was: yep u guessed it, Sect. 179 SUV buy. I was getting sooo depressed about forking out additional $$$ as I have the Hawaii trip next week...plus property tax bills. Sometimes, it's nice to have one of those victory every once in awhile. I can always be like my other brother and not file for the last 4 years and then start complaining to me about how the upper class gets all the breaks.
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  #2  
Old 10-05-2004, 05:59 PM
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haigha haigha is offline
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Quote:
Originally Posted by AndrewL
I just got a call from my bookeeper and she just talked to the CPA...it seems i won't owe any additional taxes for '03! The savior was: yep u guessed it, Sect. 179 SUV buy. I was getting sooo depressed about forking out additional $$$ as I have the Hawaii trip next week...plus property tax bills. Sometimes, it's nice to have one of those victory every once in awhile. I can always be like my other brother and not file for the last 4 years and then start complaining to me about how the upper class gets all the breaks.
Awesome! Saved me $20k last year!
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  #3  
Old 10-05-2004, 06:12 PM
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UCrewX5 UCrewX5 is offline
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Quote:
Originally Posted by AndrewL
I just got a call from my bookeeper and she just talked to the CPA...it seems i won't owe any additional taxes for '03! The savior was: yep u guessed it, Sect. 179 SUV buy. I was getting sooo depressed about forking out additional $$$ as I have the Hawaii trip next week...plus property tax bills. Sometimes, it's nice to have one of those victory every once in awhile. I can always be like my other brother and not file for the last 4 years and then start complaining to me about how the upper class gets all the breaks.
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  #4  
Old 10-05-2004, 06:12 PM
AndrewL AndrewL is offline
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now i have '04 to worry about...hmm...wonder what i should do?
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  #5  
Old 10-05-2004, 06:34 PM
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Verbalkint Verbalkint is offline
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That's some good news.

Quote:
Originally Posted by AndrewL
I just got a call from my bookeeper and she just talked to the CPA...it seems i won't owe any additional taxes for '03! The savior was: yep u guessed it, Sect. 179 SUV buy.
Same here. Sec. 179 rocks.
Quote:
Originally Posted by AndrewL
now i have '04 to worry about...hmm...wonder what i should do?
Go to Hawaii. Have a great time, and don't think about The Tax Man.
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  #6  
Old 10-05-2004, 06:49 PM
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sithjedi333 sithjedi333 is offline
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Question for you guys:

How often can you make use of this tax break? Our accountant is recommending no more than every other year. Have any of your advisors blessed anything more frequent than that? Thanks!
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  #7  
Old 10-05-2004, 08:06 PM
Rangerfan Rangerfan is offline
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Gotta love Sect. 179!
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  #8  
Old 10-05-2004, 09:15 PM
Phester Phester is offline
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A perennial favorite. It has definitely influenced the final decision on what car to purchase for a lot of our clients this past year. A good decision whenever appropriate.
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  #9  
Old 10-05-2004, 11:37 PM
AndrewL AndrewL is offline
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Quote:
Originally Posted by Verbalkint
Same here. Sec. 179 rocks.

Go to Hawaii. Have a great time, and don't think about The Tax Man.

I'll do my best to avoid thinking of the Taxes. Told my wife and she was happy that the X5 saved us....so now i probably will get another SUV next year...dunno what I should get. I might think of a lease option as well...that'll open some doors.
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