The Plot THICKENS! We May Just Have The PERFECT Excuse For You To Go RUN And Get A Tesla Model X

I know I've been on a Tesla kick in the past several days but hear me out. This is easily the most interesting vehicle launch happening this fall. And since it will be rolling out as of September 29, time is ticking.

While some may have been spooked by the launch vehicles specification and staggering $132,000* base price, we may have the perfect excuse for you to go RUN out and snap one up when it hits your local Tesla retailer.

*Please note: this does NOT include incentives

So, check this out. The Model S has a curb weight of just over 4,600 pounds but its gross vehicle weight rating (GVWR) is just over 5,700 pounds. TSLA CEO, Elon Musk, has been on the record stating that the Model X can be expected to weigh about 10 percent more than the Model S. We assume he was talking about the curb weight but that still will raise the GVWR quite a bit.

If you don't know where I am going with this, hang in there.

A call to a Tesla retailer today had an associate telling me "it will definitely be over 6,000," while a representative at Tesla's headquarters told me he had not been provided with any official specs that he could definitively give me an answer. Clearly, this is a bit muddy for the time being.

Now IF the Model X has a GVWR over 6,000 pounds it will qualify for the Section 179 deduction on your taxes. That means if you're a small business owner, you may want to start think about putting a Model X in your driveway.

**Read Agent 001's story on the Section 179 deduction HERE!

Obviously, this is still a very fluid situation with the debut of the Model X happening soon. We'll keep you abreast of the latest details surrounding the official specs of the all-new Tesla.

In the meantime, if this sounds interesting to you start reading up on Section 179 via the link above as well as contact some tax experts to understand the ins and outs of Section 179, and how it may apply to your situation.

***AutoSpies.com is not a financial advice site or licensed financial advisor. Please consult a tax professional or licensed financial advisor before making any financial decisions.

BMWm4 - 9/6/2015 10:16:40 PM

+4 Boost

psst. there are alot of vehicles that already qualify for this incentive. The Model X in the pure performance mode or signature mode is still $132k to $143k. Which is still more than $40k more than a Range Rover Sport supercharged, a X5 5.0 to the tune of $50k more, a Audi Q7, etc. Not sure how this vehicle makes much sense. Especially when there are diesel alternatives that are half the price or soon to arrive Edrive vehicles. Unless you just want to have the most expensive Hybrid vehicle in the market. As the savings in fuel will take about 20 years to justify the price of the other vehilces

atc98092 - 9/7/2015 1:42:25 PM

-3 Boost

It's not a hybrid, it a pure electric vehicle. Once the "normal" editions are available, then it starts looking more favorable.

I like the idea very much of "filling the tank" at home, and not needing to fuel up. Even in places that electricity costs are high, it's still cheaper to drive an electric car. I rarely drive over 150 miles in a day (only if I'm visiting my parents), and seldom exceed 100. My daily commute is under 40, and even weekends I'm usually around 75 miles per day. An electric car with the range of a Tesla would be fine.

Since I don't have the option of using this tax deduction, it is immaterial to me.

rockreid - 9/7/2015 7:18:53 AM

-6 Boost

sticking the big oil companies, Saudi Arabia, and Iran in the eye is reward enough. No more gas station visits. Ever.

trmckin - 9/7/2015 9:09:06 AM

+4 Boost

The oil and natural gas industry by the numbers:
9.8 million - Number of people directly and indirectly employed by the U.S. oil and natural gas industry.
600,000 - Increase of the number of jobs supported in just two years.
$200 billion - Paid by the industry paid in direct wages to U.S. employees.
$300 billion - Paid to workers in jobs supported by the industry.
1.4 million - Number of jobs the industry could create by 2030 with the right government policies in place to expand access to domestic natural resources.
$85 million - Daily amount companies pay to the federal government in income taxes, royalty payments, rents and bonus fees.
$2 trillion - Invested by the industry in U.S. capital projects since 2000 to advance all forms of energy, including alternatives.
$74 billion - Government revenues generated by unconventional oil and natural gas development in 2012, rising to $138 billion in 2025.
12 percent - Percentage that U.S. energy demand will grow between now and 2040.

Yeah, going to take a lot of Teslas to "stick it" to the oil companies. At $100k plus for a tesla... You've got quite the hill to climb. Also, unless you are going straight solar, your electricity isn't exactly clean energy either. Soap box away on me but these Tesla claims are getting worse by the day.

MDarringer - 9/7/2015 8:56:56 AM

-3 Boost

Section 179 is a delight.

rockreid - 9/7/2015 9:41:47 AM

-5 Boost

I don't care about soap boxes, or thinking I can change singlehandedly anything way bigger then me. I care about passing by gas stations, and laughing knowing I never have to go there again in my life.

vdiv - 9/7/2015 10:26:08 AM

+2 Boost

So this somehow is OK, but getting a measly $7,500 of your own money back as a tax credit to encourage driving electric is a big no-no.

Please explain why!

investor27 - 9/7/2015 10:35:37 AM

-1 Boost

Section 179 is a tax deduction, which is not the same thing as a tax credit. It's an additional saving still, but no where near the $25,000 that people have been claiming. It's more like another $6,500 or so. At any rate, I'm number 20,100+ on the wait list. I was hoping NOT to get the car for at least 2 more year until they work out all the kinks and the reliability of those Falcon wings. As for colors, we were debating hard and going back and forth between black, dark grey and deep blue and have settled back to black for now.

mre30 - 9/7/2015 4:16:34 PM

-2 Boost

Wow - if there are at least 20,100 people on the Model X waiting list and Tesla loses at least $4,000 per vehicle sold (admitted they will probably lose more per vehicle for the Model X) - then we are looking at a loss from the waiting list alone of $80,400,000. Elon Musk better get that IPO machine cranked up.

Thank goodness it seems like at least some Section 179 tax deduction money is available. To the extent that the eventual resale price of the vehicle exceeds the accelerated depreciation already expensed on the vehicle, that "profit" needs to be reported on your tax return as depreciation recapture income.

However, as it is uncertain what the real resale value of used Tesla's will be in the future (if the "buy-back" or supported program from Tesla goes away) or it Tesla goes out of business and the resale value turns out to be neglible, then the buyer will save themselves the depreciation recapture tax, since there may be nothing to recapture.

MDarringer - 9/7/2015 4:35:04 PM

-1 Boost

@mre30 Depreciation and resale on Teslas--any EVs really--is going to be horrific given that like computers and phones EV technology is rapidly cycling to newer technologies. Anyone want to buy a used iPhone 4S? Of course not!

A good tax person can make Section 179 a real financial bonanza...mine did.

rockreid - 9/7/2015 5:38:47 PM

-4 Boost

ahh.. the $4000 Zombie Lie that just won't stop. Here is the truth, Model S profit margins are amongst the highest in the industry at 25%...: http://bgr.com/2015/08/11/tesla-model-s-profits-4000/

MDarringer - 9/7/2015 6:28:09 PM

+2 Boost

Elon says to wipe your face...possibly from your fanboy tears of joy??? (sic)

freeagent - 9/7/2015 10:19:11 PM

0 Boost

I dont want an excuse to buy a Tesla. In fact, I dont want my kids to pay interest on the federal debt to fund the tax subsidies granted to this politically connected and egregious corporate welfare. We've been 20 years away from running out of oil for over a 100 years, and while the polar icecaps may be retreating, the globe's average temp has not increased at all in two decades, and the southern polar ice caps are at an all-time high. If someone wants to buy a $140k electric car, go for it. Just dont expect the rest of us to fund it.

MDarringer - 9/8/2015 8:21:29 AM

0 Boost

AMEN!!

aussie2u - 9/11/2015 9:48:19 PM

+1 Boost

I rarely comment here but you need to understand some of the background. First, America has subsidized big oil for decades! You only think of electric because the subsidy comes back to you through your taxes. Research it. Next, the other tax incentive for over 6,000lbs has been around since the Hummer H2 came out. If you're old enough to remember, people flocked to dealerships to get the H2 for thousands less due to this "loophole". None of this has anything to do with Elon Musk or Tesla, no matter if you're a fan or a hater...

Henanamani1 - 9/8/2015 12:14:37 AM

+1 Boost

Looks like a Faberge Egg to me.