Forum Discussion
wintersun
Feb 26, 2015Explorer II
Always it is a good idea to discuss this completely with your CPA. They can tell you in advance how to best determine the deductions, depreciation, and other financial aspects of your planned business.
My concern with such an endeavor would be what the status would be if 6 months from now a customer gets in a serious accident and sues you which anyone can do at any time and it matters not all that much if you win or lose as the attorney costs will come out of your pocket either way. It is also important to know your options with lost income while you are still paying the RV related costs.
If a customer totals the RV will the insurance cover 100% of the true replacement cost? Will it cover the cost based on additions you have made like second AC or a satellite dish?
My concern with such an endeavor would be what the status would be if 6 months from now a customer gets in a serious accident and sues you which anyone can do at any time and it matters not all that much if you win or lose as the attorney costs will come out of your pocket either way. It is also important to know your options with lost income while you are still paying the RV related costs.
If a customer totals the RV will the insurance cover 100% of the true replacement cost? Will it cover the cost based on additions you have made like second AC or a satellite dish?
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