Which state is best to domicile as an RV entrepreneur or digital nomad? I get this question often. There is no one right answer. However, here are a few things to consider when choosing your domicile state. You probably already know the top 3 states that full-time RVers pick as their domicile state. If not, …
As a tax preparer for many digital nomads particularly full-time RVers, I get asked lots of questions from current and prospective clients. As we are closing out 2018 and about to welcome in 2019, I thought I’d answer the most frequently asked questions especially as it relates to any tax law changes beginning in 2018. …
Top 10 tax questions for RVers and digital nomads Read More »
For those of you with an established business, how do you handle taking a business on the road? Do you need to register a new business in your domicile state? Let’s talk about how to transfer an LLC to a new state. Let’s say you already have an LLC in Colorado, your “old” home state. Now …
First things first, don’t buy an RV for a tax deduction. Instead, look at it as a lifestyle choice. However, that doesn’t mean there aren’t a few RV tax deductions available to those who RV. RV Tax Deductions Home Mortgage Interest Deduction If you financed your RV, you might be able to take the interest …
You own an RV and decide to rent it out for some extra cash. How do you deal with taxes? Let’s dive into understanding the section 179 deduction on your RV rental. First, it’s important to separate the different types of RV rentals. Residential Rental This is where you split your RV between personal use …
Thinking of taking a trip away from your motorhome or RV? Plan on renting it out while you are gone. Keep these tax rules in mind. Now you can plan ahead for taxes when renting out your RV. Renting out your RV Many RV owners use rental websites such as Outdoorsy to earn a little …
Most of you proudly identify yourself as a full-time RVer or digital nomad because you’re living your dream. You are lucky enough to travel full-time while working remotely from the road. Does this mean you can take all your costs as a travel expense? Remember, you don’t live in a sticks-and-bricks home with a typical 9-5 lifestyle like the …
Full-time RV living: Can I deduct travel expenses on my taxes? Read More »
This year is different, because this was the year you installed solar on your RV (or qualifying property), and now you’re ready to get that big fat tax credit to take 30% right off the top of that expense. I’m here to hopefully clarify this process. If you’re reading this and haven’t yet installed solar on your RV, …
Residential Energy Efficient Property Tax Credits: Solar Read More »
Unfortunately, for us RV owners who full-time, some of our deductions are limited as compared to a sticks and bricks homeowner. However, there is some overlap. As an RV full-timer myself, I understand the limitation of tax deductions for RV owners. I also get asked similar questions often. Let’s dive into the top 4 questions I …
4 Possible Tax Deductions for RV owners Explained Read More »
With so many questions, tax time can feel overwhelming. With this list I hope to answer some questions to aid in gathering information and staying organized throughout the year to make tax time easier. Remember each of us are individual and have individual tax needs even when we live in a RV. Feel free to reach out …