Call Tesla and ask them what they'd take for your car on trade in... Make sure you're sitting down when making this call.
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Call Tesla and ask them what they'd take for your car on trade in... Make sure you're sitting down when making this call.
Uncle Paul
Well-Known Member
You can depreciate your Model S over 5 years if in business service. If you sell your Model S, the money you receive will be counted as recovered depreciation.
Got great news from my accountant. The accelerated depreciation of my X plus the $7,500 Federal tax credit wiped out most of my taxes due. So much so that I was not able to further deduct my 30% of the costs for my at home charging system.
Everyone that ownes a business should consult with their tax preparer as to how much a Model X could save you. Makes buying a X or other qualifying SUV a bit of a bargain.
These tax laws are a bit fluid, and there are no guarantees that it will still be here with the new tax laws, but those buying in 2017 got a deal.
Got great news from my accountant. The accelerated depreciation of my X plus the $7,500 Federal tax credit wiped out most of my taxes due. So much so that I was not able to further deduct my 30% of the costs for my at home charging system.
Everyone that ownes a business should consult with their tax preparer as to how much a Model X could save you. Makes buying a X or other qualifying SUV a bit of a bargain.
These tax laws are a bit fluid, and there are no guarantees that it will still be here with the new tax laws, but those buying in 2017 got a deal.
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