DC from Cape Cod

Can anyone make a comparison between the X5 and the Cayenne?

Rohan Nath

</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica"> No amount of whining is going to get the money you think was so poorly spent back into the coffers of the racing program or wherever else you think it would have been better spent. </font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">Actually, I'm hoping my whining will have some impact on future spending by Porsche!

I'm sure the pepper is a great SUV - perhaps the best ever. I simply could not care less. I'm only interested in the best ever sports car.

DC from Cape Cod

Yes....but now you can have both.

RJT

As of 4:00 this afternoon, my 993 and my 356 have a new brother....An 04 Cayenne S! Silver with gray interior. I bought the Cayenne because I LOVE Porsches! I have since the mid 1950s and I have owned Porsches since 1967. I don't like BMWs or Range Rovers or MBZs, so I bought a Porsche!
I got the best deal in Dallas TX and the trip home was unbelievable. 4 hours of non stop grinning ear to ear. This thing will go faster than anyone should in an SUV, but I forgot that I was in an SUV! But I NEVER forgot that I was in a Porsche. Very smooth, quiet, incredibly responsive and 1st class quality.

Pete in DC

MB G500 or a previously enjoyed (if you can under this tax language) G320 (keisermotors.com; gwagen.com). You'll want the power of the 500 most likely....

Franklin229

</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica">Originally posted by DC from Cape Cod:
<strong>Yes....but now you can have both.</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">yup a sports car...only higher, heavier, more tippy, slower.....

88clbsport

I am in the same position. I know the lx470 qualifies and that is what my wife wants. Since I formed a corporation at the start of the year, I can at least take the 25k for the lexus.

Does anyone know if I could buy 2 suv's and take the deduction? I was pretty close to purchasing an S8, but if I can pick up a Cayenne or X5 and also take the deduction than it seems like that is the way to go.

I don't know for sure on the x5 GVWR, but I have heard the Cayenne qualifies.

DC from Cape Cod

Both the X5 and the Cayenne qualify. You can deduct up to $100K in Sched. 179 accelerated depreciation expense this year if the item(s) was brought into service this year and they are used for work (only the % used for work).

Greg Fishman

</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica">Originally posted by DC from Cape Cod:
<strong>(only the % used for work).</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">Has to be a minimum of 50% business use. That is my understanding.

We are in the process of finalizing a SUV purchase (Thanks Phil) and since it will be 90% business use we estimated our tax savings to be close to $17K from this purchase. This makes our net cost very, very reasonable.

STLPCA

</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica">Originally posted by DC from Cape Cod:
<strong>(only the % used for work).</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">So if I can convince the feds I use a new Cayenne to chase ambulances 90% of the time, it'll net out to about $30k ... cool. Gotta love those tax loopholes.

DC from Cape Cod

Greg,

Very nice, yes!

I am in the 90% usage bracket as well so 90% x $70K x 46% = $29K savings......making that $70K SUV really cost $41K.

Bet this will only last for this year.

chris walrod

I was going to recommend the Volvo XC90 6cyl. For the money, a helluva SUV, IMHO. My wife and I did the Volvo drive event at the ElToro Marine Base they had last year.

We were turned loose in the 5cyl turbo model for an autox type of coned coarse. Much fun and thanks to modern tech., VERY well behaved!

Greg Fishman

</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica">Originally posted by DC from Cape Cod:
<strong>Greg,

Very nice, yes!

I am in the 90% usage bracket as well so 90% x $70K x 46% = $29K savings......making that $70K SUV really cost $41K.
</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">Where did the 46% figure come from? I thought the max federal tax was in the 36% range. Or does this include state tax as well?
If this is the case then I was off by another $5-$6K.

amfp

DC,

Recently read this Autospies coverage about 470 and Cayenne. Guys, btw, how do you create a one word URL for posting ?

<a href="http://www.imakenews.com/autospies/" target="_blank">http://www.imakenews.com/autospies/</a>

Personally, I have not driven the Cayenne, so have no option other than first year production. But if you are leasing, it is less of a risk than owning for longer term.

DC from Cape Cod

Greg,

Federal plus state plus residual self-employment tax.

Top Federal Rate for 2003 is 35%, S/E Tax 2.9% and MA Tax 5.3%

Actually 43.1%......I was a little off...it dropped a bit for 2003.