Tax breaks ?

[soonermajic]

A guy got drunked up, made a stupid quote on his houseboat. We jumped on it,& to his credit, the next day he still honored it.

We bought & named boat same as the washes.
Question: can it be used as a 2nd home, or get any business write-offs (especially w/ having same name)? It's on beautiful Broken Bow lake, just 20 miles from Washes.

 

[Car_Wash_Guy]

I'm not an accountant but....maybe you could have a "office" there and write off a portion of the expenses.

 

[washnshine]

Throw a few five galllon chemical containers on board and you’ve got a supply storage warehouse and a freight vehicle all-in-one.

 

[Greg Pack]

IN the past houseboats with a kitchen and bath could be counted as second homes but I haven't kept up with laws regarding that and deduction of interest.

Now if it became a vacation rental property it could open up a lot of tax advantages

 

[Car_Wash_Guy]

Air Bnb it.

 

[soonermajic]

On this Corp lake, you can't rent out.
Of course that's 1 of the reasons the lake is so awesome, to.