Cayenne Business Tax Deduction

The Porsche Cayenne leads the segment with a wide array of features and benefits.  One that everyone may not be aware of is a very significant tax deduction that is available when the vehicle is purchased for business use. 

 

As a result: Business owners that purchase a Porsche Cayenne may be eligible for a year-end tax write-off. The IRS categorizes these SUVs differently than other luxury automobiles, making them eligible for SECTION 179 VEHICLE EXPENSING.  

 

Here's an example of how the math works:

 

Cayenne Purchase Price: $70,000 

 

Immediate tax depreciation write-off at $25,000 plus,

Bonus depreciation: $70,000-$25,000 x 50% = $22,500

1st yr regular depreciation: $70,000-$25,000-$22,500 x 20% = $4500 

Total year depreciation = $52,000 

 

That's a really substantial savings.  To qualify, the Cayenne must be purchased (not leased) and must be used for at least 50% for business purposes.

 

To ensure a business owner can take advantage, the Cayenne must be placed into service by December 31, 2017.

 

 

*Porsche Towson is not an accountant nor does it pretend to be.** We are in the business of providing vehicle advice, not tax advice.  Customers with questions regarding this topic should consult their individual tax adviser to determine their eligibility for this deduction.