Friday, May 28, 2010

RV Finance : Writing off the RV

Over time, I've written several short notes where I try to capture the additional financial and taxation information to owning an RV. I have other articles, just click on the 'financial' section on the blog categories.

As I was sitting in the hot tub at La Hacienda RV Resort in Lakeway Texas, I was speaking with a fellow who was a CPA for ExxonMobile. He lived in Huntsville but commuted to Houston to work.

To do that, he drove his RV down to Houston and stayed Monday through Thursday in the RV. It helps that he is a CPA when I pass this on, but he said he wrote off the RV as a business expense. I don't know how fast he did it or if it was all at once, but if you are living in your RV while at a work site then you need to consider that you can write it off as a business expense.

Now he was  a consultant so he probably had a business which means schedule C (on 1040) I think or maybe an 1120. If that is the case it is EASY to write off. So you will need to consider how you are arranged to do this.

It is so significant though that I did want to point it out. Make sure you check with your accountant. Good luck.

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