Something I have been thinking about for sometime. Can you write of your RV for taxes? I know if you have a home based business you can write off rooms or square feet, such as office space and work space etc,, Does this apply for RV vehicles ALSO? RV's that are used for show travel.
Anybody have experience or facts to share with possible deductions other than gas or repairs?
Chris
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This is something we have been thinking about for some time. We take our 2 cats with & not all hotels are pet friendly & to be honest, we are so tired of playing the number games with the hotels-if it is a tourist area or some big event going on, the "supply & demand" kicks in & the prices are in sane! Even when I make them months early...doesn't seem to matter. We have stopped doing shows on the west coast of Lake Michigan as there are very limited places to stay except B& B-LOL! Traverse City is ok, but we are somewhere else then. Yes, a SMALLER R V in the future.
Not sure how you could look it up, but I use www.irs.gov to find answers.
I did taxes for awhile and I know that people could write off their boat as a second home if they stayed overnight at least 14 days per year- or some rule like that.
You may be able to deduct it as a second home if not for bus, although I think you can do it as a bus expense but definitely check.
The 14 days has to do with rentals. You can take mortgage interest on a 2nd home if it qualifies as a home -- ie has sleeping, cooking and bathroom facilities.
I like the sound of that better...Thanks again
Ha-ha! This is probably not the best forum to ask this question. But actually, I am a tax CPA. You can, but the way you go about it will probably depend on how you use it. If you use it mostly for shows, I would take the actual expenses - depreciation, maintenance, insurance, etc. But keep track of how much business and personal use it gets and figure the percentage of business use.
We have a camper (trailer) that I sometimes use for shows. I have an LLC and I rent it out to the LLC. As long as I rent it out 14 nights or less, I don't have to report any income or expense. You could do the same thing with an RV. If it's more than 14 nights, then you would need to do a rental schedule, report the income and allocate the expenses.
Now I should end this with some disclaimer about how this advice cannot be relied upon to get out of IRS penalties. I should add that you should get yourself a good tax accountant - either a CPA or an EA, so they can not only make sure you're doing it right, but hopefully make sure you're not missing deductions.
Well, I was just curious.. I am a full time photographer The past 3 years.. I never really wrote off my adventures.. But now that my adventures are geared around my business, or I make it my business to travel to locations that I might have a chance of selling my work,, I think I can officially quality to write the expenses off.. I do sell my work at the festivals.. And am thinking about going full time on the road.. Doing the per say ' Circuit". With this in mind, it will be my office, living quarters and Work shop to build frames, etc. I was not sure about the taxes as I know I will not be a brick & mortar foundation, but more of a rubber tramp.
Or I have even thought of Park Model Home in South Florida to serve as a central hub.. They also consider this type of home a RV.
Hope to learn from the veterans here. Thanks Again,,
Perhaps, if you use it for personal use for a vacation, you could "rent" it to yourself and claim the income to your company?
Not absolutely sure, Chris. It isn't "dedicated" to your business. Right? What my accountant recommended I do with another vehicle that I used for business purposes partially was to keep a log of the mileage and report that on my taxes. I'd take a reading of the mileage at the beginning of the year and another at the end of the year. report the miles spent on business travel. I kept a detailed journal of how I was using the vehicle, e.g., picking up supplies, going to art fair meetings, attending art fairs, delivering artwork, etc.