Quote:
Originally Posted by ABMW
It's probably unwise to give financial advice here, as I'm not an accountant. But, in short, if you want to know how it's derived you can always PM me.
I don't agree with you assessment that most X5 owners make decent money. I can't tell you how many dozens and dozens of credit reports I've looked over this year alone, that show insane incomes of $45 to $50k, with zero savings, and $1,500 per month car payments.
In 2009, the largest savings I saw for any individual under the age of 30, was around $20k. That person drove a high-end german automobile and earned about $70k.
Yes, people on this board probably make more than those on Jeep boards, but I think you'd be surprised to see what most people actually take home.
In my professional experience there is little correlation with the car one drives and the income one earns.
Just what I've seen....
But, everyone has their own opinions, naturally.
Cheers.
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Incomes aside, ABMW did a very clever thing. The law allows him to deduct the entire cost of his vehicle over a few years. You could not do it if the special depreciation did not exist for 2009. Frankly, I am surprised he was complaining about paying MSRP. He will save much much more in business tax deduction. The law expires on 12/31 unless of course it is extended...