Anyone here a CPA or Tax preparer?

[Swissy]

Is anyone here a CPA or Tax Preparer? I'm looking into something and have gotten conflicting info I'd like to clear up, if at all possible. It has nothing to do with local stuff... PM for details please!

 

[alexgtp]

Adding Salmon as dependants is an IRS NO-NO!!! :laugh:

 

[Swissy]

Naw.. can't add the salmon as I already have the dogs as my kids! :laugh: As much as I spend on them, they SHOULD be allowed on my taxes...

:thumbs:

 

[kevpriest]

Depending on the age of your dogs, I would recommend shifting income to the dogs, and then having THEM claim the salmon as dependents. Your dogs must have earned income, because they will be claiming the EIC.

Here's the full explanation.

Good luck with that return!

KevPriest

 

[Swissy]

Ha! TFF... might be worth a try! :0

(but my issue really is with the laws around using a boat (or camper and such) as a second home tax write-off)

 

[geldor1]

Is anyone here a CPA?

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I thought we got rid of all the Cigar Pass Asshats

 

[Allofus123]

I'm not a CPA but as I understand it, A small sleeping platform, a propane camp stove, a port-a-potty and a tiny sink with a water supply are all you need to qualify your boat as a second home. The law says you have to stay on the boat 14 days a year.

 

[Swissy]

See, some have told me porti-potti will do, but others have said that the head has to be a plumbed-in with a holding tank... same for the stove- that a coleman stove wouldn't do- it needs to be a built-in from the boat manufacturer.

Not that anyone will probably ever check!

 

[Allofus123]

I'd stop off at the local marina. Any respectable boat rep would know the answer. I'm sure there are grey areas and as you said, no way could they check everyone. I would lean towards if the boat is livable with a sleeping area, crapper and a sink/bucket with running water. I would imagine if you were audited they would look to see if the kind/style of boat you're claiming is capable to be a live aboard. I'd have receipts on any add ons you make.

 

[Swissy]

I'd stop off at the local marina. Any respectable boat rep would know the answer...

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Hmmm... guess we have no respectable boat reps! :laugh: I hit the local boat show, and talked to a number of dealers, and no two answers were the same! :laugh: figures... well, we'll just have to see what happens :whistling:

 

[gtphale]

I believe that you have to have electric,running water,heat, and a stove to be considered an RV or second home. I should be talking to my old man today i'll talk to him. Him and my mom live in the RV about 5 months of the year down in FL so he should know that answer.

 

[DePasta]

Interesting article:
http://seattlepi.nwsource.com/local/199197_boatshome11.html

http://www.offshorefinancial.com/loanvscash.htm
-D