Just got matched with a 7 seater. Screw it.
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Why do you like the Model X so much?
It’s worked for us well as a BEV over the years even when the SC network was not as robust and especially now with the aggressive expansion.
Being able to transfer the Free Unlimited Supercharging without having to trade to them at a crap resale value is a big plus.
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Lol. I will never own a tesla unless its sub $300 a month
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Had me at the free supercharging.
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Might be able to get a Model 3 for sub $300 a month in the right zipcode.
Are these used? Confused? Says 8500 odometer?
I think we need a whole new thread on LLC hacking. I have one that I set up during the lock down that I don’t think is realizing its full potential.
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Weren’t you getting a i7?
Section 179 bonus depreciation is great if you plan to keep the car for the length of the recovery period and not let it drop below 50% usage. You could end up with a nasty tax bill otherwise.
Where are you seeing 4.99% rates? Trying to buy model 3 right now
Definitely not Tesla.
They offered me in the 9%+ neighborhood while good ol’ NFCU was a good 3% lower.
This means your adjusted gross income is under $150,000 (or $300,000) if married? To qualify for the federal $7,500 tax credit?
probably running it though his business.
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The only mental gymnastics I see here is where OP said, “home charging comes out to $0.47 / gal in gas equivalent.”
Taxes are real money. Section 179 is used and abused by many who could replicate this. Otherwise Land Rover would have gone out of business years ago.
The mods modified the original post and removed the mental gymnastics. They just neglected to say anything about the change they made, which makes some of our posts in this thread confusing.
OP was originally claiming he received 27.5% effective off the list price of the Model X. To achieve this he was claiming both the $7,500 EV credit and the tax shield from bonus (accelerated) depreciation on the asset registered through their business.
The $7,500 is a permanent reduction of tax liability.
The use of bonus depreciation is a tax deferral.
Commingling the two as a means to reduce the effective transaction price is not really a “tip” that makes sense for Lease Hacker. The vast majority of users here do not have a business to run accelerated depreciation.
And depending on how a business could manage the timing of deferred tax assets and liabilities, the overall impact of savings has more to do with clever accounting than the normal planning around a vehicle purchase or lease.
I was not confused at all, didn’t mean to reignite that part of the discussion either. Just because you don’t have a business doesn’t mean others don’t.
Money saved through tax “deferral” is absolutely a valid consideration for final cost of lease payments. It’s more of a credit than a deferral if done right anyway. Most will not be subject to recapture. Everyone has to do their own math to see if they qualify and what it will save them. It’s like you are saying just because you don’t have a Costco discount nobody does.
Still, the only questionable part is the claimed gas savings.
LH by and large hasn’t allowed discussion around “tax evasion” as Max calls it even if a business executes those things within the rules established by the IRS and state franchise tax boards.
It’s not specific to tesla model X either. You can buy a range rover, a G wagon, a mercedes EQS etc etc and get the same reduction. It’s like saying you drive Uber making 100k a year, so buying a G wagon to drive uber you get a 70% discount from what the car can make you. However, it’s not like you need a G wagon to drive Uber, almost any car can give you that given your own circumstances.
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Sec 179 is not a tax evasion. The IRS placed it to incentivize spending.
Also, it’s not a deferral as long as you keep the vehicle for 5 years and prevent recapture (which most people do). The money stays in your pocket, not uncle sam’s.
If you’re sour about other people “abusing” the code, start a business.
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