Camping with the 1%...
After pulling into and getting setup at our favorite CG here at the Silver Lake Sand Dunes in Michigan in comes this rig! I felt very inadequate at this point: 1 2013 Newmar King Aire. 1 Custom b...
Forum Discussion
wnytaxman wrote:RayChez wrote:msmith1199 wrote:
If you legitimately use those items in your business then yes, you can write off the portion you use for business. But how to you use and RV, two motorcycles, and a Ferrari in a business? I guess it could be done but I doubt it.
Also if you are writing off those things in your business and you also use those things for personal use, and you aren't breaking the law, then you are backing out that personal use portion. So since Mr. Sausage King is also living in his RV, that is personal use and not business use.
Msmith, IF you use your motorhome as an office to run a business and you have a magnetic stick on, you can write off your coach. Same goes for your car IF it is needed to operate your business and you have to commute back and forth on it while on the job, it can also be wrote off. But you got to have that sign on the automobile doors showing that it is used for the business.
Sorry, but what you are saying isn't what is in the tax code. An automobile can be written off on either the standard mileage rate, $.565 per mile, or actual costs, whichever is greater, based on its percentage of business use. There is no requirement for any signage and magnetic signs have actually been ruled to not count as signage because of their temporary nature. Also commuting from home to work is not deductible, but commuting from a place of business to a job site is deductible. Writing off the coach will only be allowed if there is a necessary business purpose and the simple addition of a magnetic sign would not qualify.
Just trying to clarify what may or may not count.
The things people come up with! You are correct. I have a business, actually two businesses, and I write off mileage on two vehicles that I use for business use. I found that's is easier for me to just use the mileage deduction because I can keep track of it right on my iPhone. And the .565 per mile is actually a pretty good deal. Unless you use the vehicle 100% for business (that means no commuting from home to office in it) then you have to keep track of miles anyway. Much easier to use that method than trying to keep receipts from every fill up and oil change.
