Tax writeoff on gas
You guys may have already heard this, but, you can write off the highway use taxon gas for your boats. You have to collect all your gas receipts all year, and when you file your taxes, write off the 0.29 that is the highway use tax. They will however charge you a 0.13 sales tax on gas in lieu of the highway use tax. So, just for a reference, if I use 500 gallons of gas a year, it should save me $80. My accountant told me about it and I'm looking at the paperwork on it right now. It's called a gas form 1201 (motor fuel claim for refund tax paid motor fuel used off-highway. a contact # for ya'll if you need it for the motor fuels tax division is (877)308-9092. or (919)733-3409. This only applies to recreational fishing vessels....Just a FYI...David
__________________

David Pate
|