Offshoreonly.com - tax write off

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Offshoreonly.com (https://www.offshoreonly.com/forums/)

- General Boating Discussion (https://www.offshoreonly.com/forums/general-boating-discussion-51/)

- - tax write off (https://www.offshoreonly.com/forums/general-boating-discussion/149504-tax-write-off.html)

berns29scarab

01-18-2007 11:21 AM

Re: tax write off

thanks all...no BUCK i didnt write off scarab...had no sink or fresh water so i knew i was SOL !! i have wrtten of sales taxes paid in the past but never anything to do with interest as a 2nd home

Panther

01-18-2007 12:38 PM

Re: tax write off

Quote:

Originally Posted by berns29scarab (Post 1997289)

thanks all...no BUCK i didnt write off scarab...had no sink or fresh water so i knew i was SOL !! i have wrtten of sales taxes paid in the past but never anything to do with interest as a 2nd home

At the end of the year call up the bank and ask them to send you an intrest statement. It took me 5-10 minutes tops. You don't necessarily need the statement when filing though. You can call them and ask for the figures but, I liked having a statment in-hand that I gave to my CPA.

Frank

Hedgehog

01-18-2007 01:08 PM

Re: tax write off

It concerns me that your CPA didn't seem to know what you were talking about. Maybe you should talk to someone else...like ThruHull. Who knows what else your CPA could be missing?

Good luck with it.

wrinkleface

01-18-2007 03:13 PM

Re: tax write off

Remember, U can cook w/ a match!!!

sy goldberg

01-18-2007 03:19 PM

Re: tax write off

I can't unde restand how you have any tax problems at all considering how little FRED pays you.

JBoat

01-18-2007 03:37 PM

Re: tax write off

has to over 21 foot - sink and a toilet

cooking surface is not a requirement to be able to write of the interest as a 2nd home.

Atleast thats what my guy has told me.

Panther

01-18-2007 04:06 PM

Re: tax write off

See page two under "Qualified Home" http://www.irs.gov/pub/irs-pdf/p936.pdf

http://www.boatus.com/gov/f3.htm

http://www.discoverboating.com/buyin...taxdeduct.aspx

SUNSATION 25

01-18-2007 04:52 PM

Re: tax write off

Quote:

Originally Posted by wrinkleface (Post 1997194)

Don't hold me 2 this exactly but the boat is like a second mortgage if U have 1 other home. The interest should B able 2 be claimed since it is a boat w/ living stuff like fridge, head, sink, etc. good luck

Like he said! I write mine off every year........

yesrej

01-18-2007 06:00 PM

Re: tax write off

Quote:

Originally Posted by Tantrum (Post 1997212)

Bernie can drink but he cant cook :drink:

look whos talkin.

BadDog

01-18-2007 06:04 PM

Re: tax write off

I am sort of in the market for a 353 Fastech. You could donate it to me and I will give you a write off.:rolleyes:

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