Home deduction.
Last year may be the last year we can claim the interest deduction on homes and RVs. I haven't heard it being reinstated. But... Last year as years before we spent a substantial bit of money on being...
Forum Discussion
Owning an RV business I asked my accountant if I could build a structure to house my RV's, for various legitimate reasons and either write it off as an expense or lease the property from myself to My LLC. The answer in both cases was no. Since I own the real estate where I would house the RVs, it's essentially taking money from one of my hands and putting it in another. The LLC's storage area would inflate the value of my personal real estate and therby can't be done. I would essentially be paying my LLC to build a structure to add appreciation to my personal asset. Now if I wanted to lease space from a totally seperate entity I could write off the lease space. But it can't be on or appreciate a property I own.
Owning an RV either personally or via a business, the interest can be claimed. I haven't heard otherwise. Owning under an LLC does allow you to claim maintenance, equipment, repiars and depreciation but you better be legit.
Owning an RV either personally or via a business, the interest can be claimed. I haven't heard otherwise. Owning under an LLC does allow you to claim maintenance, equipment, repiars and depreciation but you better be legit.
