P & W BMW | New BMW Dealership in Pittsburgh, PA (2024)

P & W BMW | New BMW Dealership in Pittsburgh, PA (2)

Your BMW model may be eligible for a GBW Federal Tax Deduction!

At BMW of Pittsburgh, we want to help you save on a new luxury vehicle. Especially if you're using it for business! Contact us to find out more about BMW Tax Deduction conditions.


Since the BMW X5, X6, X7, and the All-Electric iX each have a Gross Vehicle Weight Rating (GVWR) which exceeds 6,000 pounds, they may be eligible for full depreciation during the first year of ownership when used solely for business purposes*.
Purchasing an X5, X6, X7, or iX could potentially deliver significant tax deductions as compared to a similarly priced luxury sedan.

These BMW vehicles are heavy SUVs because of their Gross Vehicle Weight Rating, which is the vehicle's maximum weight when fully loaded with people and/or goods. As a result of this classification, they can serve as "transportation equipment" for your company. This results in a savings for you and your organization!

P & W BMW | New BMW Dealership in Pittsburgh, PA (3)

HOW TO QUALIFY FOR SIGNIFICANT TAX BENEFITS

  1. Purchase a BMW luxury model with a gross vehicle weight rating of over 6,000 pounds, such as the BMW X5, X6, X7 or iX.
  2. This car must be purchased before December 31, 2023.
  3. This luxury automobile must be used exclusively for work purposes.

FUTURE SAVINGS


You may be eligible for increased first-year depreciation on qualified vehicles, such as the BMW X5, X6, X7, or iX, under Sections 179 and 168(k) of the Internal Revenue Code. This means you can deduct 100% of the depreciation on your business's transportation equipment.Example:
If you acquire a BMW X7 for business usage, you can deduct 100% of the vehicle's depreciation. This can amount to more than $90,000! Other luxury automobiles that do not qualify may qualify for a deduction of only 20%, or less than $20,000. **

You can continue deducting for as long as you use your BMW for business purposes. Depreciation deductions on luxury automobiles may be carried forward until the vehicle is completely depreciated or sold.This is an excellent asset if you own a business. You can invest the savings from driving a BMW in your business, allowing it to develop even more.

Contact Us to Learn More About BMW Tax Deductions today!

COMPARISON OF TAX DEPRECIATION

Comparisons are provided below that show the tax benefits for company owners who purchase a new BMW X5, X6, or X7 before December 31, 2023. To learn how this information can be applied to your specific business situation, please check with your tax specialist.

P & W BMW | New BMW Dealership in Pittsburgh, PA (4)P & W BMW | New BMW Dealership in Pittsburgh, PA (5)P & W BMW | New BMW Dealership in Pittsburgh, PA (6)
$66,750 BMW X5 VS $66,750
LUXURY CAR

Total allowable depreciation for 1st
year of ownership**

$78,300 BMW X6 VS $78,300
LUXURY CAR

Total allowable depreciation for 1st
year of ownership**
$92,600 BMW X7 VS $92,600
LUXURY CAR

Total allowable depreciation for 1st
year of ownership**

BMW X5**
100% Depreciation
$66,750

VS

Luxury Car
27% Depreciation
$18,200


BMW X6**
100% Depreciation
$78,300

VS

Luxury Car
23% Depreciation
$18,200


BMW X7**

100%
Depreciation

$92,600

VS

Luxury Car
20% Depreciation
$18,200

How can I save more on taxes?

* Indicates a required field

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P & W BMW | New BMW Dealership in Pittsburgh, PA (2024)

FAQs

Who is the largest BMW dealer in the US? ›

BMW of San Antonio is not only the largest BMW dealership in Texas, but we are also now the largest BMW dealership in the entirety of North America!

How many BMW dealerships are there? ›

The BMW brand is represented by around 4,400 dealers in 150 countries.

What is the rate of BMW? ›

The price of BMW cars in India starts from ₹ 43.90 Lakh for the 2 Series while the most expensive BMW car in India one is the XM with a price of ₹ 2.60 Cr. The newest model in the BMW line-up is the 2 Series with a price tag of ₹ 43.90 - 46.90 Lakh. BMW cars in India under 50 Lakh include the 2 Series and X1.

How many BMW dealerships are there in the US? ›

There are 366 BMW dealerships in the United States as of April 30, 2024. The state and territory with the most number of BMW locations in the US is California, with 52 dealerships, which is about 14% of all BMW dealerships in the US.

What is the best selling BMW car in the US? ›

What Is The Best Selling BMW In America? The best-selling BMW in America is the X5 luxury crossover. BMW sold 82,372 units of the X5 in 2022, beating the X3 by more than 20,000 units.

What does the i stand for in a BMW? ›

Then come letters such as i for injection for gasoline cars, d for diesel or x for BMW all-wheel drive cars.

What is the most sold BMW vehicle? ›

The BMW 3 Series was overall the brand's best-selling car in 2023 with 2,702 units sold. The X1 was the highest selling SUV of the BMW range followed by the flagship X7. Moving to the Mini range, the Countryman remained the brand's bestselling model accounting for 55 per cent of the 869 units sold in 2023 at 478 units.

What does BMW stand for? ›

The acronym BMW stands for Bayerische Motoren Werke GmbH, which roughly translates to the Bavarian Engine Works Company. The name harks back to the company's origin in the German state of Bavaria. It also indicates BMW's original product range: engines for various applications.

Who owns most of BMW? ›

BMW is mainly owned by the Quandt family, who have 35.92% of the company's ordinary shares, which have voting rights. The Quandt family consists of Susane Klatten, who owns 19.9% of the company and Stefan Quandt, who owns 16% of the company.

Which is better, BMW or Mercedes? ›

Mercedes-Benz vs BMW: Which Brand Has Better Performance? Performance is a crucial factor to consider when buying a luxury car. BMW has a slight edge over Mercedes in terms of performance and driving dynamics. However, Mercedes offers a more refined and luxurious driving experience.

Which is better, BMW or Mercedes or Audi? ›

All three car brands produce reliable and high-quality vehicles that promise an endearing driving experience. However, Audi is considered to be less reliable by some people as compared to BMW and Mercedes. Having said that, the choice is purely based on experience and different people can have varying experiences.

Are BMWs expensive to maintain? ›

BMWs require expensive maintenance of $968 on average annually, according to RepairPal. BMW also ranks 30th out of 32 car brands in RepairPal's reliability study, which means you'll want to account for your vehicle needing work regularly.

Where are most BMWs sold? ›

The USA was once again the most important single market for BMW M GmbH automobiles in the 2023 financial year. The German home market again took second place in the ranking of sales regions, while the UK remained the third most important market, as in the previous year.

Are BMWs reliable? ›

Key takeaways. BMW is a globally recognized luxury brand known for German engineering, initially producing aircraft engines before automobiles. Today, BMWs are mid-range in reliability due to their sophisticated technology. They offer high safety ratings, fuel efficiency, and a blend of sporty and luxurious features.

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