Trade time or not?
Fleet Mechanic
Joined: Jan 2022
Posts: 1,410
Likes: 712
Interesting, I didn't realize RV interest was deductible, but you're right, if you don't hit the standard deductible it doesn't matter a whole lot.
Fleet Mechanic
Joined: Dec 2021
Posts: 1,735
Likes: 1,116
Best part of financing a vehicle used to be getting a serious discount because the dealer got a ****** for the interest they were going to pull in, but as soon as you get the final price in writing you decide you're paying cash. 
They sure don't cut deals for financing customers like they used to though.
They sure don't cut deals for financing customers like they used to though.
Lead Driver
Joined: Feb 2022
Posts: 7,965
Likes: 4,042
It qualifies as a second mortgage because it has a bathroom, bedroom and kitchen. Prior to the TTC it helped with itemizing, but not anymore.
More Turbo
Joined: Mar 2013
Posts: 607
Likes: 377
Not sure who your accountant is, but I wouldn't want a audit.....
Fleet Mechanic
Joined: Jul 2008
Posts: 1,937
Likes: 1,221
From: Southern Crescent
Wrote a check for the last truck. Paid in full as I left the lot. That was on my bucket list. So is living debt free.
Hotshot
Joined: Mar 2017
Posts: 10,161
Likes: 1,371
From: Chaz
Last time (I have hired attorneys since when opps happen to expedite clearly), I sat with a revenue agent, around 10 years ago, they hit my area hard as it was probably an President’s initiative.
They quickly got the RV and mileage deduction conversion off the desk quickly. Lots of oil field and petro chemical independent contractors around here that probably could utilize that. Believe it or not they just want to get what they are owed and if nothing, $10,000 or less for their time. They’re gonna get the easy deductions done for you asap and work to what you owe and move onto the next file.
Never had an RV. With that said I wouldn’t lose sleep over it.
True story and no I don’t cheat on my taxes I am more than happy to pay them.
They quickly got the RV and mileage deduction conversion off the desk quickly. Lots of oil field and petro chemical independent contractors around here that probably could utilize that. Believe it or not they just want to get what they are owed and if nothing, $10,000 or less for their time. They’re gonna get the easy deductions done for you asap and work to what you owe and move onto the next file.
Never had an RV. With that said I wouldn’t lose sleep over it.
True story and no I don’t cheat on my taxes I am more than happy to pay them.
More Turbo
Joined: Mar 2013
Posts: 607
Likes: 377
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Fleet Mechanic
Joined: Jul 2018
Posts: 1,617
Likes: 568
From: Black Hills of SD
I traded my '21 for a new '22 last year. It was early August when I took delivery of my '22. I took a loan out on my 401K in case the dealer tried to low ball me and that is exactly what happened. When I told the salesman that I was prepared to keep my '21 and buy the '22 straight out, they immediately changed my trade price. They raised my trade by $3k. I was gonna hold out for another grand, but, the boss gave me the look and I settled. All said and done, I drove my '21 for 19 months and it costed me $1600. I was able to get my X plan honored along with Ford guaranteed pricing, so, I was able to trade up a year from an XLT to a Lariat for approximately $6k. That's a deal in my book. Probably never get that deal again......
PS. I did ask the boss if we could order a '23 and trade up again and it was a straight up NO!
Happy Trails.....
PS. I did ask the boss if we could order a '23 and trade up again and it was a straight up NO!
Happy Trails.....
Fleet Mechanic
Joined: Jan 2022
Posts: 1,410
Likes: 712
Yeah I am seeing the same thing on my wife's car that we just sold, got a couple grand less than expected and that was selling private party as well. The new prices aren't coming down yet tho.
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