anyone working out of RV as you full time?
I am wondering if there is anyone who has worked out of your RV and got major tax deduction? I have read some tax guidelines. It is possible. Just wondering how many hoops you had to jump through.
Forum Discussion
Hi Chowan, I am a full-timer, am employed full-time, and run a "personal business" on the side.
If the "major tax deduction" part of your question is significant, my answer is no. However; every tiny bit helps!
I financed a portion of my motorhome for the mortgage interest deduction. This is allowed but it is up to your individual situation as to whether or not paying interest and getting a small deduction on personal income tax is worth it.
I could find no way (that appeared to be legitimate) to claim any part of my RV as an office or expense (for either my job or home business).
When I travel for my job - I expense the costs (to the business) and that is not deductible. When I travel for my personal business, the costs may be deductible but you have to watch the rules on that very closely. I would never suggest that any of this is simple!! :-)
If the "major tax deduction" part of your question is significant, my answer is no. However; every tiny bit helps!
I financed a portion of my motorhome for the mortgage interest deduction. This is allowed but it is up to your individual situation as to whether or not paying interest and getting a small deduction on personal income tax is worth it.
I could find no way (that appeared to be legitimate) to claim any part of my RV as an office or expense (for either my job or home business).
When I travel for my job - I expense the costs (to the business) and that is not deductible. When I travel for my personal business, the costs may be deductible but you have to watch the rules on that very closely. I would never suggest that any of this is simple!! :-)
