[Rhodes22-list] Firm Price

[Robert Dilk]

Taking the dedution and having the deduction stand up to an audit are not 
the same.

ask your accountant, but the test for boats was an enclosed head, stove and 
so many nights slept on-board ( 14 I think). my accountant had me keep a log 
of nights on-board.

But this is America and you can do what you will.

Bob
S/V Knot Necessary

>From: Ben Schultz <BenS at ApproSystems.com>
>Reply-To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>Subject: RE: [Rhodes22-list] Firm Price
>Date: Fri, 3 Dec 2004 10:02:18 -0600
>
>I'm not an accountant, but the Admiral is.  I understand that the interest
>is deductable no matter how much time you spend aboard.  Velvet Elvis is
>free and clear now, but we always deducted its interest.
>
>-----Original Message-----
>From: rhodes22-list-bounces at rhodes22.org
>[mailto:rhodes22-list-bounces at rhodes22.org] On Behalf Of pestyone57
>Sent: Friday, December 03, 2004 10:52 AM
>To: The Rhodes 22 mail list
>Subject: Re: [Rhodes22-list] Firm Price
>
>Ed K or a tax expert,
>
>I have heard if you can live aboard, you can deduct the interest, but do 
>you
>
>have to spend a specific amount of time on the boat, as you would in a
>"vacation" home or RV and does the time have to be consecutive?
>
>Philip
>
>
>----- Original Message -----
>From: "ed kroposki" <ekroposki at charter.net>
>To: "'Hank'" <hnw555 at gmail.com>; "'The Rhodes 22 mail list'"
><rhodes22-list at rhodes22.org>
>Sent: Friday, December 03, 2004 4:56 AM
>Subject: RE: [Rhodes22-list] Firm Price
>
>
>Phillip:
>Keep in mind that if you do not already have a second house, under
>U.S. tax laws the interest may qualify as a deduction as on a second home.
>That is if you file an itemized return.
>
>Ed K
>Greenville, SC, USA
>Addendum:
>Keep your object always in mind, while adapting your plan to circumstances.
>Realize that there are more ways than one of gaining an object.
>Hart, B.H. Liddell, Strategy, 2nd Revised Edition, Praeger Publishers, N. 
>Y.
>1975
>
>
>
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