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I am inquring about the possibility of adding RV expenses to

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Hello, I am inquring about...
Hello, I am inquring about the possibility of adding RV expenses to my personal or business tax deductions.
I own an Scorp in the state of nevada. I rent a home (I do not own it). Recently my wife and I bought an RV (Recreational Motorhome). It is being financed via a 20-year loan at 4.75%. The motorhome will be used partially for business (we will be traveling to different states to buy merchandise to resell online). The RV will not be used to store the inventory, nor will we be using it for everyday business, nor will customers be on the premesis.
Are there any personal or business tax deductions I can make with this RV? Thank you.
Submitted: 1 year ago.Category: Tax
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Answered in 7 minutes by:
8/10/2016
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,325
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Hi, my name is***** will be happy to help you with your questions. You mentioned that you will be using the RV to travel to different locations to buy merchandise. You would be able to deduction either the actual costs associated with your business use or the standard mileage rate. With either method you need to know the total business miles and the total miles. Let's assume that you use the RV 75% for business. You would take 75% of the gas, oil, repairs, tires etc. If you use the standard mileage rate you would multiply your business miles by $0.54.

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Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago

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