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Old 05-03-2007, 06:23 PM
Paul Thomas, CPA
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Default Re: business deduction for boat

<nstumpp[at]comcast.net> wrote
- quote -

> I have a small photography business. I take most of my
> pictures from the boat. We are out for several days at a
> time. What part of the boat expenses can I deduct? id:
> slip fees, insurance, mortgage payment, maintenance, etc.


If the boat is 100% business use, meaning that you don't use
it for personal reasons, then take all expenses related to
the boat. If it's part business and part personal use (by
the number of hours someone is on it) then prorate the
expenses accordingly.

--
Paul A. Thomas, CPA
Athens, Georgia

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
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Old 05-01-2007, 11:12 PM
nstumpp@comcast.net
Guest
 
Posts: n/a
Default business deduction for boat

I have a small photography business. I take most of my
pictures from the boat. We are out for several days at a
time. What part of the boat expenses can I deduct? id:
slip fees, insurance, mortgage payment, maintenance, etc.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

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boat, business, deduction
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