BMW OF PEABODY

  
BMW of Peabody partnered with the North Shore Women in Business (NSWIB) for their annual ?Taste of Success 2009? on May 21, 2009 at Turner Hill in Ipswich, MA.

The gala is the NSWIB?s largest annual event.  Those in attendance enjoyed food from the areas finest restaurants and spent the evening networking with business owners in banking, automotive and health care services.

Lori Connolly, Marketing Director for BMW of Peabody drove a 335i convertible on location to display at the gala Thursday evening.  The dealership also donated a one weekend rental in the vehicle as part of their silent auction.  Proceeds from the silent auction benefited HAWC (Help for Abused Women and Their Children).

The BMW 335i Convertible was the perfect addition to the silent auction.  The offer entitles the highest bidder the opportunity to pick up the convertible at the dealership on a Friday and return the vehicle the very next Monday.  This gives the winner a full weekend of enjoying one of the most stylish and powerful cars on the road. Many of the bidders owned a BMW and this prize would be a chance for them to experience another vehicle in the line-up. 

?It was a wonderful gathering of some of the top women in their profession, says Lori Connolly.  It has been a pleasure partnering with the North Shore Women in Business and networking with a group of exceptional women.?

The American Recovery and Reinvestment Act of 2009 which is expected to be signed into law today, February 19 contains a provision permitting federal deductibility of motor vehicle sales and excise taxes on new vehicle sales occurring between the date of enactment and the end of 2009. 

The federal deduction is available to customers with a "modified adjusted gross income" of less than $125,000 for individuals and less than $250,000 for joint filers.  The deduction will be "above the line", meaning that it is available regardless of whether the customer itemizes deductions.  The deduction is only available on purchases of NEW vehicles under 8,500 pounds gross vehicle weight regardless of model year, provided the original use starts with the taxpayer claiming the deduction.  Vehicles sold for under $49,500 qualify for the full deduction.  Tax on the first $49,500 of any vehicle sold above that price may also be deducted.  
 

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