By Tammy Daly in RVs Inside and Out: A Part’s Manager’s Perspective
With tax time being a few short weeks away, many people wonder if their RV can be used as a write off. RVs these days can cost you as much, if not more than, some homes. The average cost for a Class A motorhome is now reaching up into the $100,000 plus range. As a buyer you may want to think about some of these options to make your RV (or at least a portion of it) a tax deduction in every way you can.
Second Home Deduction
It is obvious that if you are a full time RVer you can use the interest you pay on your RV loan as a tax write off. However, you can do the same if your RV is your second home. This is something that many are unaware of. The law on second homes simply states that to qualify as a second home your living space must contain a sleeping area, bathroom facility, and a kitchen. We all know that puts every RV owner into the second home status. Ask your loan company to give you some documentation on the total amount of interest you paid that year as well as the amount of sales tax you paid, and you have your second home write off.
Business Expense
Do you own a small business? Do you have a pastime that can be easily converted into a profitable business venture? Do you travel for business and do the majority of traveling in your coach? Viola, a small business tax write off. As a small business owner you can write off any expense that your business requires to operate. It is best to see an accountant to be sure that your “business” receives all of the deductions that are there for small business owners. Even if you are only using your coach to transport employees from place to place, there are deductions for that as well. Check out this blog about Earning a Mobile Income for Ideas on making money on the road.
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