IRS raped me again...

[Jrocket]

Well I've about had it with these people...Just another year of getting screwed on my taxes.I need more write offs.Looks like its time to buy a rental house or river house!!Dam it something to even this shit out. burningm

[Boat Racer]

You got to watch out for those UNCLES'

[Tinkerer]

You just need a bigger boat-- I write mine off.

[NashvilleBound]

JR...What do you do professionaly? and drinking/parting does not count, tho I am sure you do it very well too :rolleyes:

[Jrocket]

Well Im boat shopping right now so a bigger boat will help for next year.How big does it have to be to right it off? Im thinking of buying a rental house or river house this year.I have to do something,because my annual household income will be ALOT higher this year than the last.So next tax season they will hit me even harder...I cant ever win with these people... :rolleyes:

[NashvilleBound]

I have never heard of writing off our boats...what do you call it, business wise, to write it off?

[Jrocket]

NashvilleBound:
JR...What do you do professionaly? and drinking/parting does not count, tho I am sure you do it very well too :rolleyes: Last year I was a truck driver(local).So I couldnt write off alot of things.This year I changed jobs and went union,which will be even harder on me for taxes at the end of the year.
My taxe guy tells me that my wife and I made TOO much money for what we have to write off.I said are f'n crazy,Ive never heard of somebody making TOO much money....but I understand what he meant.It just pissed me off.Im not a rich guy and at tax time I get even poorer.....LMAO :rolleyes:

[NashvilleBound]

Sounds like you need two things. One is a given...a new, big ass boat.
The other is a new tax guy!

[Boat Racer]

I'll try to write my boat off!!!!

[Mandelon]

I think it needs a sink and head, and then it qualifies as a second home and you can write off a portion of the interest.
Better to buy real estate. It actually appreciates but you can still write off expenses and maintenance trips.....very handy if its at the river!!!!!!

[Jrocket]

Well the boat is a for sure thing I need!! I just got a new tax guy and he's 100% better than the last one I had.. :) I just need more write off's.. :D

[Infomaniac]

Buy a Marine Assault Quad Rotor 540 - 572 or 705. That should do it. Drive some clients around with it and then donate it to someone. Probably me. wink

[Jrocket]

Infomaniac:
Buy a Marine Assault Quad Rotor 540 - 572 or 705. That should do it. Drive some clients around with it and then donate it to someone. Probably me. wink Info,
Thanks for looking out for me.....or you. :D :D

[Boat Racer]

Sounds like a winner!!!!!!!

[H20NUT]

Well, we got screwed last year too. We sold our house 2 years ago and live in an apartment in Santa Monica. We decided we needed more write-offs and we bought a house in Havasu. Escrow should be closing next week. We will leave the boat there, so we save the wear and tear on the car. The amount of $$$$ you save on the hotels, food and gas makes it worth it! It's even better if you can take a second and pay off the boat and write off all the boat interest. That is what we are planning to do. Plus we can get to the river so much faster and we can go whenever we want!!!
You should really think about it!! If you want a realtor our guy was great! irene

[NashvilleBound]

How much is a home out in Havasu?
...and I didn't know they financed boats smile_sp smile_sp smile_sp smile_sp

[H20NUT]

You could get a pretty nice house for around $150K. They don't finance the boat. What you have to do is take a second out against your home for the amount that you owe on your boat and pay that off. Your mortgage payment will go up but at least you can write-off the interest... :)

[Sandbar Junkies]

Maybe you need a new Tax guy. I would get a second opion. If that dosn't work I like the rental in Havasu idea, I can help you fill up the garage space by storing my boat in it.

[THATJEFFGUY]

You can write the whole thing of as long as you have a "creative CPA". I use my boat to entertain potential clients at the River...those clients can sure drink alot of Silvers too..another write off ! I pay quarterly, the hell if I'm gonna pay at the end of the year too !F()@I< UNCLE SAM !

[Waldo]

You can also get a Home Equity Line of Credit(HELOC), which is basically a 2nd, and write of the interest for what ever you purchase with it.

[jet496]

If you're going to make money, you got to get used to paying taxes. Too many people back off from making money because of the high taxes or get themselves in trouble finding a better tax guy. Remember a write off is still money you're spending. Hang in there.
It sucks doesn't it!

[hd&boatrider]

Jrocket:
Well I've about had it with these people...Just another year of getting screwed on my taxes.I need more write offs.Looks like its time to buy a rental house or river house!!Dam it something to even this shit out. burningm If you can get in a home at the river do it. You will have the write off plus build equity. You can write off a boat as someone mentioned and if I am correct it requires the boat to have a head and sleeping quarters. I thought about doing that but I am just going to go get another friggin' home. The problem is you can't write off 3 of em'. So I say to myself..hey rent the home in Corona to my sister which would be less than the payment. Wait a minute, I can't write off the loss because she is a relative. **** it. Just keep buying real estate and hold on to it if you can. Don't overpay though. You know the saying "Buy the least expensive in an expensive neighborhood". That is it for my rambling...Too many beers tonight :) What the **** am I talking about again...lol

[HavasuDreamin']

H20NUT:
What you have to do is take a second out against your home for the amount that you owe on your boat and pay that off. Your mortgage payment will go up but at least you can write-off the interest... :) Better plan on keeping that house a while because with the amount you will be leveraging it, you won't be able to get rid of it should you need to. Just something to keep in mind.
boxed

[XTRM22]

hd&boatrider:
Jrocket:
Well I've about had it with these people...Just another year of getting screwed on my taxes.I need more write offs.Looks like its time to buy a rental house or river house!!Dam it something to even this shit out. burningm If you can get in a home at the river do it. You will have the write off plus build equity. You can write off a boat as someone mentioned and if I am correct it requires the boat to have a head and sleeping quarters. I thought about doing that but I am just going to go get another friggin' home. The problem is you can't write off 3 of em'. If you buy a river house and use it as a rental property, you can write off all three. Primary residence (home), secondary (boat), business/investment property (rental house). My tax guy showed me that last year. I don't need it cause my 22' open bow doesn't quite meet the write off requirements, althought I know a lot of people who do write off their boats and will gladly stick a sleeping pad and a portapotty in it if audited!
Jrocket, I feel your pain, I just wrote this years check to IRS this morning even with two houses and legitimate business expense it ain't pretty.
Chuck :p

[snappertapper]

i write all mine off but i also fish for a living so. but then again i write all my motors off as well as all expenses.trucks and trailers