Senator Rockefeller targets boat interest - Page 2
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Senator Rockefeller targets boat interest

  1. #15
    Senior Member Patyacht's Avatar
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    Hey Chris you surprised me. I didn't think you'd read all of my post...
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    Senior Member King Creole's Avatar
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    Paty
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  4. #17
    Can't re-Member 28Eliminator's Avatar
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    Quote Originally Posted by Patyacht View Post
    I haven't seen any performance boats that really qualify for the deduction. Especially in Havasu or on the Parker Strip! How to Buy a Boat & Deduct the Interest

    "According to IRC section 163(h)(4), a boat will be considered a qualified residence if it is one of the two residences chosen by the taxpayer for purposes of deductibility in the tax year. A qualified residence must have basic living accommodations including sleeping space (berth), a toilet (head), and cooking facilities (galley). If the boat is also chartered, the taxpayer will have to use the boat for personal purposes for either more than 14 days or 10% of the number of days during the year the boat was actually rented, to qualify for the interest deduction in accordance with IRC section 280A(d)(1)."

    And a BBQ does not count as a galley, nor does the lake count as a head!
    Then you haven't looked very hard
    I'd agree with you, but then we would both be wrong

  5. #18
    I'm baaaaack... hkunz's Avatar
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    Quote Originally Posted by Patyacht View Post
    I haven't seen any performance boats that really qualify for the deduction. Especially in Havasu or on the Parker Strip! How to Buy a Boat & Deduct the Interest

    "According to IRC section 163(h)(4), a boat will be considered a qualified residence if it is one of the two residences chosen by the taxpayer for purposes of deductibility in the tax year. A qualified residence must have basic living accommodations including sleeping space (berth), a toilet (head), and cooking facilities (galley). If the boat is also chartered, the taxpayer will have to use the boat for personal purposes for either more than 14 days or 10% of the number of days during the year the boat was actually rented, to qualify for the interest deduction in accordance with IRC section 280A(d)(1)."

    And a BBQ does not count as a galley, nor does the lake count as a head!
    We've got all that, with a sink, blender, double bed, all we'd need except for fewer write-offs
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  6. #19
    Canatard
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    Quote Originally Posted by 28Eliminator View Post
    HELL YES.. I'm keeping every dime I can

    It doesn't amount to much, as you can only deduct a percentage of the interest as it relates to percentage of time used.. But a few bucks is a few bucks. They make up for it with the "Luxury tax"
    I never said I'm against deducting it. I would declare myself to be a jet boater if I could save 3 cents on my taxes.

    The point I was trying to make is that some of you guys are like four year olds who have had their lollipop taken away. I would imagine you come off the same as I would come off if I started crabbing about Canadian health care implementing a $10 deductible on chiropractic treatments.


    Quote Originally Posted by hkunz View Post
    And you don't?
    No, I don't.

    I appreciate the thought, though. It is wildly amusing.

  7. #20
    Can't re-Member 28Eliminator's Avatar
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    Quote Originally Posted by Tom Brown View Post
    I never said I'm against deducting it. I would declare myself to be a jet boater if I could save 3 cents on my taxes.

    The point I was trying to make is that some of you guys are like four year olds who have had their lollipop taken away. I would imagine you come off the same as I would come off if I started crabbing about Canadian health care implementing a $10 deductible on chiropractic treatments.




    No, I don't.

    I appreciate the thought, though. It is wildly amusing.
    My wife says the same thing about me
    I'd agree with you, but then we would both be wrong

  8. #21
    I'm baaaaack... hkunz's Avatar
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    Quote Originally Posted by Tom Brown View Post
    I never said I'm against deducting it. I would declare myself to be a jet boater if I could save 3 cents on my taxes.

    The point I was trying to make is that some of you guys are like four year olds who have had their lollipop taken away. I would imagine you come off the same as I would come off if I started crabbing about Canadian health care implementing a $10 deductible on chiropractic treatments.




    No, I don't.

    I appreciate the thought, though. It is wildly amusing.
    You have a co-pay on your chiropractor? Before Obamacare, I had no co-pay on up to three chiropractor visits per week, with an hour massage before or after, and acupuncture, if needed. Now, I have no chiropractor at all. That was a big improvement - NOT.
    It is impossible to defeat an ignorant man in argument. -William G. McAdoo, lawyer and politician (1863-1941)

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  9. #22
    Marine Organism Forkin' Crazy's Avatar
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    Quote Originally Posted by Tom Brown View Post
    I never said I'm against deducting it. I would declare myself to be a jet boater if I could save 3 cents on my taxes.
    Wow!!! Now that would take true dedication!!!
    "An armed society is a polite society. Manners are good when one may have to back up his acts with his life"

    - - Robert A. Heinlein

  10. #23
    Senior Member NiceGuyEddie's Avatar
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    Quote Originally Posted by 28Eliminator View Post
    The deduction was one of the motivating factors in our decision to buy a bigger boat than what we were first looking at. This will hurt a little..

    Not surprising though. Our government lacks the intelligence to realize that the financial issues plaguing them right now is not due to insufficient taxation, but rather overspending on their part. The easiest way for them to remedy the situation is to dive into the consumer's back pocket.. once again.
    Bingo

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    Here's the dipshit's address:

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  11. #24
    Formula FL Formula FL's Avatar
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    Some people are alive for one simple reason, muder is a capital crime. Oh and "some" includes X wives

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