Friday, November 18, 2005

Ease into RV ownership, expect little tax benefit

There aren't many costs of a motor home that you can deduct on your income taxes. You cannot deduct the purchase price, the gasoline or diesel, tires, maintenance or the park rents. The only costs you can deduct are your property taxes and the interest charges, if you choose to finance.

A used motor home can set you back a few thousand dollars; a fancy new motor coach can run into seven figures. Unlike a house, a motor home will not appreciate over the years. Just the opposite will occur. In time, the value of the motor home will become virtually nothing. If you have plenty of cash and can afford it, fine. Just don't let a costly RV destroy your finances. Full Story...

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