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07-31-2011, 05:15 PM
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#1
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Senior Member
Fleetwood Owners Club
Join Date: Oct 2009
Location: North Carolina
Posts: 476
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Hoping to upgrade to a Heritage but would like to know how to legally write off/depreciate the purchase in the name of our corporation. We already have FL as a second home for the Eagle. But we put it in our personal name and it is paid for. This time we want to think this thru a little better, if it is possible.
Anyone have knowledge of IRS regs on this kind of write off? Advice?
Dave
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David & Gail Salisbury, NC
2003 American Eagle 42'
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07-31-2011, 05:29 PM
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#2
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Community Administrator
Newmar Owners Club
Join Date: May 2000
Location: Newark, DE
Posts: 13,896
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That sounds like a question for your business CPA/attorney. 
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Adios, Dirk - '84 Real Lite Truck Camper, '86 Wilderness Cimarron TT, '07 DSDP, '11 Virtual RV
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07-31-2011, 05:35 PM
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#3
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Registered User
Join Date: Dec 2006
Location: Traveling the lower 48
Posts: 2,450
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If you own a S&B home and you own an RV then the second home fully qualifies as a second/vacation home and is deductible just as a 2nd home would be. If you are trying to work in a 3rd home you could have issues and you are going to need a very good real estate lawyer. If it is a business/personal ownership issue then you are going to need a very good business lawyer.
Ignore anything else anyone might post here!
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07-31-2011, 05:37 PM
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#4
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Senior Member
Fleetwood Owners Club
Join Date: Oct 2009
Location: North Carolina
Posts: 476
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Got conflicting answers from CPAs. Good idea to consult a tax attorney.
Dave
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David & Gail Salisbury, NC
2003 American Eagle 42'
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07-31-2011, 06:01 PM
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#5
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Community Moderator
Fleetwood Owners Club Freightliner Owners Club Florida Cooters Club
Join Date: Jan 2000
Location: Silver Springs, FL. USA
Posts: 9,606
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There is no cut & dried answer - you need a tax expert to assess our particular situation. A CPA can identify the relevant IRC regulations, and a tax attorney can argue the different interpretations of those regs with the IRS. Most accountants will err of the side of caution to avoid confrontations with the IRS on the tax return, while the attorneys like the challenge of finding a loophole.
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Gary Brinck
2004 American Tradition; 2007 GMC Acadia
Homebase in the Ocala Nat'l Forest near Ocala, FL
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07-31-2011, 06:14 PM
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#6
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Moderator Emeritus
Vintage RV Owners Club Texas Boomers Club Oklahoma Boomers Club Ford Super Duty Owner
Join Date: Aug 2000
Location: Cypress, TX
Posts: 11,982
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Rather than ask here, you need to hire a tax accountant and attorney to make sure everything is set up correctly, if it is even feasible.
Ken
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Amateur Radio Operator|Practicing for our retirement! 2008 Cameo 35SB3 - 2002 7.3L Crew Cab Dually w/ a SCMT - Max Brake - Travel with one Miniature Schnauzer, one Standard Schnauzer and one small Timneh African Gray Parrot
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07-31-2011, 07:44 PM
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#7
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Senior Member
Freightliner Owners Club
Join Date: Apr 2002
Location: Pensacola
Posts: 370
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It may get even more complicated.. Corporate Jets are already outcasts, Corporate RV's may be a hard sell-
Also: As of Friday... The second home/vacation home/ RV - mortgage interest deduction is one of the "loopholes" on the chopping block as a Senate revenue enhancement to raise the debt ceiling.
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Hooligan, Pensacola, Fl -USCG Retired
2000 Georgie Boy Landau 36'Dp, 2008 Suzuki Toad
Our Pug "Lily" & "George" the Newfoundland
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08-05-2011, 02:19 PM
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#8
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Junior Member
Join Date: Jul 2011
Location: O-lando
Posts: 11
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my accountant says i can write of anything i want... until i get caught 
still can't believe this was my 1st post
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Thanks to the Interstate Highway System, it is now possible to travel from coast to coast without seeing anything.
-- Charles Kuralt
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08-08-2011, 06:06 AM
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#9
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Member
Ford Super Duty Owner Damon Owners Club
Join Date: Apr 2008
Location: Enfield, CT
Posts: 51
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Read IRS Pub 936. Just my two cents
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08-09-2011, 03:05 PM
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#10
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Senior Member
Join Date: May 2010
Location: Pensacola area
Posts: 187
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Quote:
Originally Posted by Hooligan
It may get even more complicated.. Corporate Jets are already outcasts, Corporate RV's may be a hard sell-
Also: As of Friday... The second home/vacation home/ RV - mortgage interest deduction is one of the "loopholes" on the chopping block as a Senate revenue enhancement to raise the debt ceiling.
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Gonna be a lot of water front homes up for sale when the big boys lose their deductions.
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08-09-2011, 08:37 PM
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#11
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Senior Member
Winnebago Owners Club Texas Boomers Club Freightliner Owners Club
Join Date: Jul 2006
Location: Port Aransas, TX
Posts: 704
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Somehow I think they'll be able to muddle through.
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Michael
2008 Itasca Meridian, Cummins ISB 350, Allison 3000, Progressive EMS, Supersteer MCUs, Aventa II, Air Force One, Tire Safeguard TPMS, 15,000 BTU roof AC, Blue Ox Tru Center
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