100% Tax Credit for Los Angeles Business Owners on BMW Purchases

Attention Los Angeles business owners: Did you know you may be eligible for a 100% tax credit when you purchase or lease a BMW? That's right - substantial tax savings could be yours for your business vehicle needs.

Tax Credits for Business Vehicle Purchases

The IRS allows businesses to claim various tax credits and deductions for vehicle-related expenses. Depending on the specifics of your business and the vehicle, you may be able to write off a significant portion or even the full amount of your BMW purchase or lease.

Some key tax credits and deductions that Los Angeles business owners should explore include:

• Section 179 deduction - Allows you to deduct the full purchase price of qualifying vehicles in the year they are placed in service, up to certain limits
• Bonus depreciation - Provides an additional first year depreciation deduction, taken after the Section 179 spending cap is reached
• Depreciation deduction - Recover the cost of a vehicle over a period of years by deducting a portion of the expense each year
• Deductions for business use of a personal vehicle - If you use your personal vehicle for business purposes, you may be able to deduct the business portion of vehicle operating expenses

Determining Your Eligibility for Vehicle Tax Deductions

Of course, there are specific rules and restrictions around these tax credits and deductions. The vehicle must be used for business purposes, and only the business use portion can be deducted. Detailed record-keeping is required.

Your tax professional can advise you on the credits and deductions your business qualifies for and help you maximize your tax savings. It's a smart idea to discuss these tax strategies before making any vehicle purchase decisions for your business.

Explore BMW Models for Your Business

When you're ready to find the perfect BMW for your Los Angeles business needs, visit or contact BMW of Sherman Oaks, located at 5201 Van Nuys Boulevard in Sherman Oaks. Our knowledgeable team can walk you through the luxury, performance and advanced features of the new BMW model line-up so you can select the ideal vehicle for your business use. We look forward to putting you behind the wheel of the ultimate driving machine, with potential 100% tax credit savings for your business. Questions? Get in touch with our BMW Finance professionals for guidance.