Duchess Jack Posted June 4, 2009 Share Posted June 4, 2009 I was just told that if I get a real estate book and a few cards of realtors that I can write my vacation off as a business expense... basically looking for rental property? Is this true? If so... whoa... that would kick ass. Anything sweet I am missing? Deduction wise? Quote Link to comment Share on other sites More sharing options...
nuke'em ttg Posted June 4, 2009 Share Posted June 4, 2009 you sure goin ta New Jersey is worth the Audit, bet Whomp doesn't just give those cards out either....ask illseeya, oh ya , he's missing......told ya Quote Link to comment Share on other sites More sharing options...
Duchess Jack Posted June 4, 2009 Author Share Posted June 4, 2009 you sure goin ta New Jersey is worth the Audit, bet Whomp doesn't just give those cards out either....ask illseeya, oh ya , he's missing......told ya no, but getting out of jersey might be. we're looking at two weeks in Ft Lauderdale this year. Hoping to catch a Dolphin game (or two). Jamaca is high on the list as well. Quote Link to comment Share on other sites More sharing options...
TimC Posted June 4, 2009 Share Posted June 4, 2009 When those babies, puppies and kittens are dying in New Jersey because you didn't pay your fair share, will you be remorseful? Quote Link to comment Share on other sites More sharing options...
H8tank Posted June 4, 2009 Share Posted June 4, 2009 At WCOFF business invariably comes up, write off baby. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted June 4, 2009 Share Posted June 4, 2009 I was just told that if I get a real estate book and a few cards of realtors that I can write my vacation off as a business expense... basically looking for rental property? Is this true? If so... whoa... that would kick ass. Anything sweet I am missing? Deduction wise? Do you have some kind of business or already own rental property? Quote Link to comment Share on other sites More sharing options...
Duchess Jack Posted June 4, 2009 Author Share Posted June 4, 2009 Do you have some kind of business or already own rental property? no, but we do have a business plan written up for a pub and we are passively working on so we'd have that as proof as well as many books on running pubs and bed and breakfasts to show we are seriously looking Quote Link to comment Share on other sites More sharing options...
The Irish Doggy Posted June 4, 2009 Share Posted June 4, 2009 Side question, is there a way to give the rental property a SSN to claim it as a dependent? Quote Link to comment Share on other sites More sharing options...
westvirginia Posted June 4, 2009 Share Posted June 4, 2009 no, but we do have a business plan written up for a pub and we are passively working on so we'd have that as proof as well as many books on running pubs and bed and breakfasts to show we are seriously looking Two weeks is gonna be a hard sell if you get audited. I'm not a tax guy, but I would think you could get by with some percentage of it, for some of the time and expenses. You obviously won't be able to write off meals for the kids or a separate room for them or any entertainment expenses not related to the business purpose. If you document time, appointments, etc. and come up with a percentage of the time spent, then you could probably apply that percentage to travel, lodging and meals. Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted June 4, 2009 Share Posted June 4, 2009 I wouldn't do it. If you audited it for whatever reason, you will regret it. Quote Link to comment Share on other sites More sharing options...
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