Thread: New Boat
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[email protected] dougking888@yahoo.com is offline
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First recorded activity by BoatBanter: Feb 2007
Posts: 900
Default New Boat

Right. It's not one of the BIG red flags, but it could tip the balance
if the IRS is looking at you.


Who needs that kind of trouble?



"Capt. JG" wrote:
No one, but that shouldn't deter one from using the available deductions.


Agreed

But it also behooves one to cross all "T"s and dot all "i"s


It
can certainly be a legitimate one, and the IRS will only be interested for
two reasons... one, it's a random audit, which means nothing would prevent
it, or two, there are enough other red flags to trigger an audit, which
means this one isn't the likely make/break.


Maybe
Depends on the region, depends on your other red flags.

Jus my opinion, having been there, been audited (no, not when I did the
donation), and didn't get the fcuking tee-shirt.


I think we can all agree that the U.S. tax system needs reform. I have
never been audited and don't want to be. Nor do I want to have to
wheedle the IRS into returning my assets after seizure.... they have a
tendency to be quick to grab and slow to give back.

DSK