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[GMCnet] RV's & Taxes [message #260477]

Fri, 29 August 2014 17:03

Ken Henderson

Messages: 8726
Registered: March 2004
Location: Americus, GA

Karma: 9

Senior Member

For those few of you who deduct RV expenses as business expenses, as I did
for a few years after starting to sell wiper kits, you'd better read this:

http://www.forbes.com/sites/peterjreilly/2014/08/25/home-sweet-rv-does-not-always-produce-best-tax-result/

Since I never showed a profit on the wipers, I became worried about being
audited after a few years of losses. My tax accountant friend said "...Don't
worry about it, I've got clients who haven't shown a profit in 15+
years...". But I didn't feel right about it, so i quit. This ruling might
indicate that others should follow suit.

Ken H.
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Ken Henderson
Americus, GA
www.gmcwipersetc.com
Large Wiring Diagrams
76 X-Birchaven
76 X-Palm Beach

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Re: [GMCnet] RV's & Taxes [message #260624 is a reply to message #260477]

Mon, 01 September 2014 09:19

jhbridges

Messages: 8412
Registered: May 2011
Location: Braselton ga

Karma: -74

Senior Member

Another possibility to move from 'personal' to 'business', albeit potentially uncomfortable. Quote Onan, who varies their warranty on some gensets depending whether they're in commercial or personal vehicles. If the vehicle has a toilet, it's a personal, otherwise it's commercial. I looked at bolting a Thetford in one of our vans, but we never used the warranty anyhow, so I skipped.
This doesn't mean the IRS will look at the situation the same as Onan, but if you were in the dock, it would be worth a mention.

--johnny

Foolish Carriage, 76 26' Eleganza(?) with beaucoup mods and add - ons. Braselton, Ga. I forgive them all, save those who hurt the dogs. They must answer to me in hell

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