Reply
 
Thread Tools Display Modes
Old 02-02-2011, 02:56 PM   #21
2011 Berkshire 390bh
 
wnytaxman's Avatar
 
Join Date: Jul 2009
Location: Western NY State
Posts: 688
Quote:
Originally Posted by herk7769 View Post
You see... This is why I don't play a tax advisor on the Internet.

It is also why open forums are so great.

I think we can sum this whole thing up by saying:

If you think you might need an accountant or taxman; you do.
If you don't think you need one; you might.
If you are sure you don't need one; you don't.
The IRS says you don't; but they lie.
The IRS gives advice; but it's usually bad and it is still your fault.

If you fear an audit; you make too much money and should pay an accountant.

How did I do?

Love it! You hit the nail on the head and then some!

In parting, may all your audits be no change or better yet, result in a refund.....yeah, I also believe in the tooth fairy.
__________________

__________________
2011 Berkshire 390bh
wnytaxman is offline   Reply With Quote
Old 02-02-2011, 05:50 PM   #22
Member
 
Join Date: Nov 2010
Location: Lindstrom, MN
Posts: 69
Well, I just got done with a full audit. I figure its the RV that put up the red flag.
I cover a 6 state territory for work and bought a Georgetown to avoid motels and bring my wife with. Our good friends at the IRS office changed the deduction to 85% from 100%, because they didn't believe it wouldn't have any personal use. The extra tax wasn't worth fighting over. I had very good records, which was a good thing, otherwise there would be trouble.
__________________

__________________
Ggantilla is offline   Reply With Quote
Old 02-03-2011, 03:50 PM   #23
2011 Berkshire 390bh
 
wnytaxman's Avatar
 
Join Date: Jul 2009
Location: Western NY State
Posts: 688
That's still really good that you got an 85% deduction. Most auditors just go ballistic at the sight of an RV deduction and try to throw the whole thing out.

Too bad I can't come up with a way to let my one client take his off. His RV is a cool $1.5 Million. Yep, it's not a Forest River.
__________________
2011 Berkshire 390bh
wnytaxman is offline   Reply With Quote
Old 02-06-2011, 11:23 AM   #24
Member
 
Join Date: Nov 2010
Location: Lindstrom, MN
Posts: 69
Is it paid for? just curious.
__________________
Ggantilla is offline   Reply With Quote
Old 02-10-2011, 07:31 PM   #25
Member
 
whitebb's Avatar
 
Join Date: Aug 2010
Location: Houston
Posts: 42
sales taxes can be deducted as any taxes meaning in turbo check out the sales taxes and enter the % for the state and go. first try to enter sales taxs for bought in 2009 , You just have to read and check it out.
__________________
whitebb is offline   Reply With Quote
Old 02-10-2011, 07:35 PM   #26
Site Team - Lou
 
Herk7769's Avatar
 
Join Date: Oct 2009
Location: South Eastern PA
Posts: 21,169
Again, no expert, but I thought you can deduct sales tax or state income tax; whichever is greater. Large purchase sales tax can be added on even if you use income tax. Be aware you must be able to itemize to take advantage of these deductions. NYTaxman help me out here.
__________________

Lou and Laura with Bella - German Short Hair Pointer
2008 GMC Sierra 2500HD Crewcab SB Allison Duramax
2010 Flagstaff 8526RLWS - Superglide 3300
HAM CALLSIGN - KC3FFW
Herk7769 is offline   Reply With Quote
Old 02-14-2011, 07:29 AM   #27
2011 Berkshire 390bh
 
wnytaxman's Avatar
 
Join Date: Jul 2009
Location: Western NY State
Posts: 688
Herk, you can close on that one, but not quite right on. You get to add to your sales tax deduction any sales tax on major purchases. The sales tax on cars, boats, RV's, and even home improvement or new home construction is considered to be major purchases. You then add the major purchase sales tax to the sales tax from the sales tax table for your income and your state/county/city and if that amount (major purchase sales tax plus the amount from the table) is greater than the amount of state income tax you paid, then you can take the sales tax deduction rather than the state income tax deduction. I have some clients that even keep track of the actual sales tax they pay and use that. Usually it is substantially more than what the sales tax tables give you.

I hope that helps to clear this up. If this sounds confusing, it is just the way the tax law is written.
__________________
2011 Berkshire 390bh
wnytaxman is offline   Reply With Quote
Old 02-14-2011, 07:39 AM   #28
2011 Berkshire 390bh
 
wnytaxman's Avatar
 
Join Date: Jul 2009
Location: Western NY State
Posts: 688
Quote:
Originally Posted by Ggantilla View Post
Is it paid for? just curious.
Actually the guy's $1.5 million RV is paid for. He's done well in life to put it mildly. This is the third Marathon he has purchased. Can you imagine getting $800,000 as a trade for your used rig?
__________________
2011 Berkshire 390bh
wnytaxman is offline   Reply With Quote
Old 02-14-2011, 07:58 AM   #29
Site Team - Lou
 
Herk7769's Avatar
 
Join Date: Oct 2009
Location: South Eastern PA
Posts: 21,169
Thanks Taxman, all my paperwork and my Turbotax are at home on my desk and was trying to go from memory. (always suspect these days).

Once you jogged that brain cell, I remembered that it was still state tax or sales tax (income + major purchases); but not both.
__________________

__________________

Lou and Laura with Bella - German Short Hair Pointer
2008 GMC Sierra 2500HD Crewcab SB Allison Duramax
2010 Flagstaff 8526RLWS - Superglide 3300
HAM CALLSIGN - KC3FFW
Herk7769 is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



» Virginia Campgrounds

Reviews provided by




ForestRiverForums.com is not in any way associated with Forest River, Inc. or its associated RV manufacturing divisions.


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 08:34 PM.