[Rhodes22-list] Firm Price

[Ben Schultz]

I'm not an accountant, but the Admiral is.  I understand that the interest
is deductable no matter how much time you spend aboard.  Velvet Elvis is
free and clear now, but we always deducted its interest.

-----Original Message-----
From: rhodes22-list-bounces at rhodes22.org
[mailto:rhodes22-list-bounces at rhodes22.org] On Behalf Of pestyone57
Sent: Friday, December 03, 2004 10:52 AM
To: The Rhodes 22 mail list
Subject: Re: [Rhodes22-list] Firm Price

Ed K or a tax expert,

I have heard if you can live aboard, you can deduct the interest, but do you

have to spend a specific amount of time on the boat, as you would in a 
"vacation" home or RV and does the time have to be consecutive?

Philip


----- Original Message ----- 
From: "ed kroposki" <ekroposki at charter.net>
To: "'Hank'" <hnw555 at gmail.com>; "'The Rhodes 22 mail list'" 
<rhodes22-list at rhodes22.org>
Sent: Friday, December 03, 2004 4:56 AM
Subject: RE: [Rhodes22-list] Firm Price


Phillip:
Keep in mind that if you do not already have a second house, under
U.S. tax laws the interest may qualify as a deduction as on a second home.
That is if you file an itemized return.

Ed K
Greenville, SC, USA
Addendum:
Keep your object always in mind, while adapting your plan to circumstances.
Realize that there are more ways than one of gaining an object.
Hart, B.H. Liddell, Strategy, 2nd Revised Edition, Praeger Publishers, N. Y.
1975



__________________________________________________
Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list 

__________________________________________________
Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list


 +-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+
The information transmitted may contain confidential material and is
intended only for the person or entity to which it is addressed.
Any review, retransmission, dissemination or other use of or taking of any
action by persons or entities other than the intended recipient is
prohibited.
If you are not the intended recipient, please delete the information from
your system and contact the sender.
+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+