I had a client tell me today that they (a restaurant) is thinking of purchasing an RV for the catering portion of their business. I can see the obvious problems the IRS may have with an asset like this. So, immediately I'm thinking no that I would not recommend an RV. Am I wrong?
-
-
Did you inquire if the RV is going to be modified in any way for catering business? I have clients who picked up old delivery (panel trucks) and modified it to suit their business needs. One client is a brewer and he modified it as a beer truck that he takes to events in the summer to sell beer and snacks.Originally posted by Super Mom View Post
I think if it a typical RV without any modifications, how can you justify that it is "ordinary and necessary" for a catering business?Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
-
Thanks for that info, interesting read. I'm wondering though, that case kept referring to individuals and S Corps, this particular business is a C Corp, would that be much different?????Originally posted by New York Enrolled Agent View PostComment
-
Why
Why would you not recommend it? In addition to NYEA reply post there is additional info available on how to handle this issue.Originally posted by Super Mom View Post
In your reply to NYEA, question for you would be why can't a C Corp have similar equipment as a S Corp or sole proprietor or partnership?Last edited by TAXNJ; 05-10-2016, 09:06 AM.Always cite your source for support to defend your opinionComment
-
A business is a business no matter the type.Originally posted by Super Mom View PostBelieve nothing you have not personally researched and verified.Comment
Comment