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Updated about 1 month ago on . Most recent reply

User Stats

74
Posts
3
Votes
Bruce M.
  • Canyon Lake, TX
3
Votes |
74
Posts

Large RV or Boat - Tax incentives, Tax strategies

Bruce M.
  • Canyon Lake, TX
Posted

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating asset

I would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.
I sold my primary residence and I have several rental properties which I use as I'm fixing them up.

What I'm pondering is living aboard and working aboard developing a new product, while traveling.   I have other existing consumer products.

So I would outfit the RV with Solar and Starlink to provide power and internet at all times.  Solar has an energy credit and Starlink is deductible as business expense.  I could perhaps use Section 179 for the solar overall, as solar would be necessary, although not ordinary to conduct R & D.  It seems a stretch to pay for the Rig with Section 179.

I would have development equipment onboard and dedicate a portion of the space to development

I could put the companies logo on the side as advertisement

Given this, what tax strategies are actually practical?

If I had the business headquartered at some commercial or industrial space, I could deduct the entire cost of the space.  Just trying to understand what is practical applying the same to a large RV or boat

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