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Tax implications of using an RV for work

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  • Tax implications of using an RV for work


    "JackMetal" <[email protected]> wrote
    I travel extensively for work and was wondering if anyone had any ideas or resources that would help me determine the tax benefits (if any) of using an RV for my work travel. At present, my company pays for the airline flights, rental cars, hotels, food, etc.. I am thinking of moving into an RV full time and using it for my work travel. I know that the loan interest will be deductable, but will the actual loan payments be deductable since it will be used exclusively for work? Also, would things like the campground costs, etc..be deductable.

    The actual vehicle cost is depreciable and deducted as an employee business
    expense (see Schedule A).

    The campground fees would be treated just like hotels.

    I'd be sure that all fits into your employers plans. If they'll reimburse
    you well, it should pay for itself, give you more time for paperwork, or
    time with clients.


    --
    Paul A. Thomas, CPA
    Athens, Georgia



  • #2
    Tax implications of using an RV for work

    I travel extensively for work and was wondering if anyone had any ideas or
    resources that would help me determine the tax benefits (if any) of using
    an RV for my work travel. At present, my company pays for the airline
    flights, rental cars, hotels, food, etc.. I am thinking of moving into an
    RV full time and using it for my work travel. I know that the loan
    interest will be deductable, but will the actual loan payments be
    deductable since it will be used exclusively for work? Also, would things
    like the campground costs, etc..be deductable.

    Thanks for any help.

    Comment


    • #3
      Tax implications of using an RV for work

      On 6/5/05 1:43 PM, in article
      [email protected] uttaxes.com, "JackMetal"
      <[email protected]> wrote:
      I travel extensively for work and was wondering if anyone had any ideas or resources that would help me determine the tax benefits (if any) of using an RV for my work travel. At present, my company pays for the airline flights, rental cars, hotels, food, etc.. I am thinking of moving into an RV full time and using it for my work travel. I know that the loan interest will be deductable, but will the actual loan payments be deductable since it will be used exclusively for work? Also, would things like the campground costs, etc..be deductable. Thanks for any help.
      Once you move into the RV, it becomes your principal residence, wherever
      located. As such, you would have to meet the "exclusive use" and
      "convenience of the employer" tests for the business portion of the RV
      costs.

      Now, if you are able to show you have a different principal residence, and
      the only time you are in the RV it is either 100% for business or 100% for
      personal use (depending on the trip), and your employer reimburses you for
      the business portion only, this may work. I have a client whose corporation
      owns an RV which is used 100% for business (funny how that business just
      happens to require visiting all sorts of tourist destinations in our
      wonderful state, and has for over a quarter of a century).
      --
      Tom Healy, CPA
      Boulder, CO
      Web: http://www.tomhealycpa.com

      Comment

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