Porsche Cayenne Section 179 Tax Savings from Porsche Oklahoma City
Make a big impression on your customers or business partners when you drive them around in the Porsche Cayenne. You can save money with the Cayenne while still enhancing your company image with a tax break on this model. Per Section 179 of the IRS Tax Code, businesses are allowed to make a tax deduction for vehicles that are purchased for commercial use during the tax year. If you need a vehicle to add to your business in Oklahoma City, Edmond, or Norman, you can find the Cayenne at Porsche Oklahoma City.
What Is a Section 179?
This allows businesses to deduct a percentage of the purchase price from qualified vehicles, or in some situations, the whole purchase price, from the business owner’s gross income. It is a tax incentive devised by the U.S. government to motivate businesses to purchase vehicles and invest in their business operations.
Can My Business Qualify for a Section 179?
If your business leases, finances, or buys used or new vehicles within the tax year, your business can qualify for a deduction under Section 179 of the IRS Tax Code. If you want to take advantage of this tax incentive, the purchased vehicle must be conscripted to service within the same year that the deduction is to be filed. The amount of the deduction acts as a sort of buffer of finances that is directed towards the operations of your establishment as the claimant.
Cayenne’s exterior, interior, and performance boast of Porsche’s design and engineering, a marvel of vehicle design that provides a striking appearance, legendary Porsche performance, and allows a luxurious ride. This is the perfect vehicle to showcase the successful side of your business to potential clients and partners. The Cayenne is equipped with a 3.0L turbocharged V6 engine with a twin-scroll turbocharger between the cylinder banks, and it can kick out an impressive 335 hp. The Cayenne’s transmission is an automatic eight-speed Tiptronic S which reduces fuel consumption and enhances comfort and athleticism.
The Cayenne has comfortable seats with up to 18-way power adjustment for the driver and available lumbar massage seats to ride in luxury on those long business trips. You can seat up to five if needed, but Cayenne also offers voluminous, adjustable space to hold AV equipment and luggage for all who are heading to a conference. Enjoy greater peace of mind with Porsche’s Driver Assistance features.
The Porsche Cayenne is the only Porsche vehicle that meets the weight limit standards for Section 179, therefore qualifying it for tax incentive eligibility. If you are looking to file for the tax incentive with the Cayenne, consult with your tax advisors.
Other Financial Savings
If a new Cayenne is not in the budget for this year, Section 179 extends to new, used, and Certified Pre-Owned vehicles. Contact Porsche Oklahoma City for additional information about the Porsche Cayenne and see if we can help your business to get a new or used model. Our sales team will be happy to work with you to see if there are other ways we can save your business money in addition to claiming the tax incentive that Section 179 offers.
Stop by Porsche Oklahoma City today to learn more.