Wa Leasehold Excise Tax deduction

It's that time of year again.

Here in Washington we are charged a 12.84% tax on our moorage. Has anybody tried to use this as an itemized
deduction on their Fed Tax Return?? I would rather not play guinea pig with the IRS.

I think I would call it a "personal property tax" and deduct it on line 7 of 1040 Skd A.

As I read your post it would fit according to IRS Publication 17, which is the Bible for individual income taxes.

Keep in mind that if the IRS doesn't like it, and it's very unlikely they would even notice, they will just send you a letter asking for an explanation and/or a check to cover the tax. It would not cause a general audit.

I have done taxes professionally for a dozen years so I have some basis for my comments, but have no experience in Washington. I can't address what Washington might do when if they see it.

We are all pigs/sheep to the tax man. Argh, I say hang 'em all from the yard arm!

Wa. Leasehold excise Tax deduction

We got a partial refund of the tax here in Friday Harbor going back a few years. The Port of Friday Harbor helped with the paper work and filing. I am not sure of the reasoning behind the refund.

(Sigh...)

Dave N said:

We are all pigs/sheep to the tax man. Argh, I say hang 'em all from the yard arm!

Click to expand...

Ah yes Dave, but only if you've paid your annual Yardarm Tax!


I would imagine that every gov't taxing office/bureau has an employee or two, known for being arrogant and unhelpful to folks such as yourself who call with questions like this.... that the rest of them would gladly donate to you for a theraputic hanging...


LB

So let me understand this: Your state charges you taxes on your slip or mooring fees???? If so, sounds like another case of tax the "yachties" they own boats and can afford to pay more. My state has plenty of taxes but at least no sales tax on new boats and no property tax on any boats either. They keep trying to tax boats but all the legislature are boaters so this is unlikely. When in doubt ask a tax professional. I have an accountant for my business and he tells me what I can and cannot write off. I write a lot more off since I started using him.... The tax pros are worth every penny if they make the silly tax laws work for you. RT

rob...you'll love this. we pay, not a slip tax, but a "MUD TAX. It is a tax on the mud under the water that the boat sits on as the MUD is the property of Alameda CA...apparently. I think I have it right. anyway...how is THAT for a dandy. I think it is ALAMEDA COUNTY thet gets theh money, not the city.:0

So I would assume, if it was possible to purchase the "mud" under your boat, of course using your already taxed income, then the "mud" would be yours. I'm also guessing that if you owned the "mud", said "mud" would now be subject to property taxes as well? And you better hope that "mud" you own doesn't become toxic with CU from antifouling paint. You'll then be subject to fines and cleanup costs in addition to the taxes. Hmmm, I think they got ya either way, better to rent the "mud" than deal with the muddy liabilities...... And I thought NE was bad! RT

big brother

Rob

They eventually caught John Kerry for his little Rhode Island sales tax/excise tax scheme.

Is no one safe????????

Joe,
I have no issue with someone owning, registering, keeping a boat in RI for tax reasons, many do and if its legal, more power to them. I know it creates lots of jobs for Rhode Islanders. There are lots of large, very expensive boats with out-of-state owners here. What made me feel sorta sick is the fact that John Kerry, a man with more money than I could ever spend, chose to have a custom boat built in New Zealand. If he was just any rich dude, well fine, thats his prerogative. But hes not, hes an elected official. There are plenty of world class boat builders in Mass and even the rest of New England that could build him anything he wanted, and he chose to buy elsewhere. To me that speaks volumes of his real feelings towards the common working man and local industry. At least hes not in my state.... RT