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Old 11-20-2017, 04:25 PM   #1
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Tax Law Changes

I heard that one of the changes is to disallow the interest deduction on second home, RV and boats.

That along with interest deductions for dealers on flooring costs

Lobbyists ask Congress to protect interests in GOP tax bill | RV Daily Report

This could bring big changes to you local dealer.
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Old 11-20-2017, 09:45 PM   #2
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Quote:
Originally Posted by rgvtexan View Post
I heard that one of the changes is to disallow the interest deduction on second home, RV and boats.

That along with interest deductions for dealers on flooring costs

Lobbyists ask Congress to protect interests in GOP tax bill | RV Daily Report

This could bring big changes to you local dealer.
[mod edit]
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Old 11-20-2017, 10:01 PM   #3
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Quote:
Originally Posted by rgvtexan View Post
I heard that one of the changes is to disallow the interest deduction on second home, RV and boats.

That along with interest deductions for dealers on flooring costs

Lobbyists ask Congress to protect interests in GOP tax bill | RV Daily Report

This could bring big changes to you local dealer.
The only thing that matters is the number at the end of the year. If I pay less overall I dont care how i get there.
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Old 11-20-2017, 10:10 PM   #4
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I don't even look one bit at what they say they are going to do. I wait until the president signs it into law and then do my bellyaching.
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Old 11-20-2017, 11:14 PM   #5
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The only thing that matters is the number at the end of the year. If I pay less overall I dont care how i get there.
Remember the law of unintended consequences when you say "I don't care how I get there".
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Old 11-21-2017, 12:00 AM   #6
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I haven't paid any taxes for 3 yrs...........prior to that very little after I retired.



Not sure how ANY changes would affect me


And until it is LAW............nothing but Blah, Blah, Blah
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Old 11-21-2017, 01:30 PM   #7
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This law has a long, long way to go before it passes. The odds of there being major changes to it are much greater than it going through Congress without change.

The Huffington Post, which does not exactly have a reputation for unbiased reporting, misstated the proposal. The proposal is that businesses could either deduct the cost of new plant and equipment which now would be on a 39 year life and not deduct their interest expense or deduct the interest and continue to depreciate the new plant construction.

The big items that could have a huge effect on RVers would be the loss of the sales tax deduction, loss of the state income and personal property deduction, and the loss of the second home interest deduction. As with any proposed changes in the tax laws there will winners and there will be losers.
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Old 11-22-2017, 07:50 AM   #8
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Remember the law of unintended consequences when you say "I don't care how I get there".
Here is the deal for me though. I dont NEED the federal government. Outside of the military I dont need them for anything. They provide me very very little for my hefty (I paid 85k in taxes last year) payment. So anything reduction is welcome, I really dont care what they cut.

Every two weeks i get a hefty chunk stolen from my check for programs I dont want, or need. In addition to my social security charge towards a system I also don't want. I would much rather opt out of that ponzi scheme too and continue to manage my investment myself.

I've worked very hard to be completely self sustained.
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Old 11-22-2017, 07:49 PM   #9
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Guess you don't need highways, police, etc. either ... unfortunately, others do, and we don't get to each just pay for the services we want or need, cafeteria style.
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Old 11-22-2017, 07:53 PM   #10
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Guess you don't need highways, police, etc. either ... unfortunately, others do, and we don't get to each just pay for the services we want or need, cafeteria style.


Well that's about 4% of the federal government along with about 16% for DoD. I'll pony in a little extra if we cut all that other stuff and cut my taxes by 75%.
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Old 11-22-2017, 08:11 PM   #11
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Here is the deal for me though. I dont NEED the federal government. Outside of the military I dont need them for anything. They provide me very very little for my hefty (I paid 85k in taxes last year) payment. So anything reduction is welcome, I really dont care what they cut.

Every two weeks i get a hefty chunk stolen from my check for programs I dont want, or need. In addition to my social security charge towards a system I also don't want. I would much rather opt out of that ponzi scheme too and continue to manage my investment myself.

I've worked very hard to be completely self sustained.
WOW...great for YOU...WAY TO GO !!!
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Old 11-23-2017, 07:30 AM   #12
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I doubt that we will ever have real tax reform. Even mentioning that removing mortgage interest and local taxes from the list of deductible items, brings out howls from the dependents. Those with homes (and motorhomes) that they can't afford and those receiving considerable local services somehow think they should pay less to support our military.
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Old 11-23-2017, 07:38 AM   #13
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If your "rich" your GOLDEN. If your the "working class", just work a little harder. Glad I just bought my new RV trailer last month. But going forward, if any major tax changes are made involving taxes on RV's, one will have to thoroughly look into each states tax code to see if that state is or isn't RV tax friendly.

The state I live in is fine for owning a RV, boat or what ever "toy" that you own. But some states right now, just nickel & dime ya to death if you own a RV or any item other than stick & mortar structure.
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Old 11-23-2017, 10:07 AM   #14
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Guess you don't need highways, police, etc. either ... unfortunately, others do, and we don't get to each just pay for the services we want or need, cafeteria style.
You realize police aren't funded federally right? Look at my post again I said federal taxes. Police, fire, and schools are funded at the state/local level. Highways are already built.... After riding on multiple highways this year I can certainly tell you they haven't been maintained in quite some time. Here in Atlanta they are shutting lanes down and charging people to use them after we already paid taxes for them.
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