In addition to earning income and offsetting the costs of RV ownership, you may qualify for substantial tax benefits including depreciation, claiming business expenses, and even accelerated depreciation.
Expenses – You’ll be able to deduct insurance premiums, maintenance costs, any upgrades you might want on your motor home, plus a vacation each year. These now all become business expenses.
Section 179 Deduction – Each year the government allows a capital investment purchase that can use an accelerated depreciation schedule for that investment. In 2010, the allowance was $35,000 (For more information, see Publication 946 from the Internal Revenue Service IRS). Click Here.
*We do recommend that you consult with your own tax adviser who can explain how to properly set things up to give you the maximum benefit.