The answer is YES! Once you have enrolled your RV in our program, you’ll be able to derive many tax benefits. Check with your accountant/tax preparer about how you can benefit from these tax benefits:
1. Depreciation– Most of our owners use a 5 year depreciation schedule for income tax purposes. Many can take 52{9e95cad1042ba50828a1a353e2643de1ee66a265f5fc54455b2553fef6c0e674} depreciation during the first 2 years alone.
2. Expenses – You’ll be able to deduct insurance premiums, maintenance costs, extended warranty costs, storage fees, the cost associated with stocking your rv with our Convenience packs and any upgrades you might want performed to your motorhome. These items become business expenses.
3. In some states you may be reimbursed for any Sales and Use tax you paid when you bought the RV. This is because renters pay transaction privilege tax on the rental.